The accounting probe at Qwest, under new management since last month, is the latest in a string of corporate accounting scandals to come out of the US.
Qwest’s new management has said there may be further inquiries into its accounting policies after the Securities and Exchange Commission and its external auditors had completed their investigations.
Accounting treatment dating from 1999 showed the company had prematurely booked hundreds of millions of dollars of revenue.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Investment in people, tech and businesses impacts on EY's profit per partner figure
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned