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Sarbanes-Oxley News & Developments
SEC Could Sue Goodyear, Ex-Finance ExecsThe company and its former CFO and chief accounting officer get Wells Notices tied to a restatement stemming from an ERP implementation and errors in intercompany billing systems.
> > The notice served on Goodyear states that the SEC staff intends to recommend a civil or administrative enforcement action against Goodyear for alleged violations of SEC Act of 1934 provisions. The charges concern "the maintenance of books, records, and internal accounting controls, the establishment of disclosure controls and procedures," and periodic SEC filing requirements, according to the company. The charges concern account reconciliation matters that spawned the decision of the company to restate in October 2003.
Source: CFO
Published:2005-08-19
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