BusinessCompany NewsDoJ probes accounts at AOL/Time Warner

DoJ probes accounts at AOL/Time Warner

AOL Time Warner is being investigated by the US Justice Department over its accounting practices, soon after the media giant admitted to a similar probe by the Securities & Exchange Commission.

According to USA Today, the DoJ is investigating the company following a story in the Washington Post which raised questions about the way America Online had booked online ad revenue.

Last week, AOL Time Warner admitted that the Securities & Exchange Commission was looking into certain transactions at the company’s internet division.

The company also says, in a prepared statement that if the Justice Department wants to look at the facts the company will cooperate.

The Justice Department wants to restore confidence in U.S. financial markets, which have been shaken by high-profile accounting scandals.

In its statement, AOL said its accounting was appropriate and in accordance with generally accepted accounting principles.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

4d Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

4m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

4m Alia Shoaib, Reporter
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

8m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

8m Emma Smith, Managing Editor
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

7m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

7m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

8m Emma Smith, Managing Editor