SEC completes investigation into Toshiba’s past accounting practices, no fines levied

This brings a closure to Toshiba’s 2015 accounting scandal.

On Monday, is what is likely to be a huge sign of relief for Japan’s Toshiba Corp, the conglomerate disclosed that the U.S Securities and Exchange Commission (SEC) had completed its investigation of its past accounting practices without levying any penalty on the company.

“We understand that all SEC investigations regarding our accounting have been completed,” and that no penalty had been levied vis-a-vis its past accounting practices, said Toshiba’s spokesman.

The development brings closure to the company’s 2015 accounting scandal which supposedly uncovered billions of dollars in liabilities at its subsidiaries and forced Toshiba to sell its prized NAND memory chip business.

Categories: Creativity, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy

Tags: , , , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: