TechnologySEC clears Amazon in accounting probe

SEC clears Amazon in accounting probe

The worlds largest online retailer Amazon.com has escaped further censure by the US's chief regulator over its accounting practices

The online giant said Monday that an 18 month investigation into the company’s accounting practices by the US Securities and Exchange Commission had come to a close without any further action being taken.

Late in 2000, the SEC had announced a probe into the details of Amazon’s accounting and investigations into its strategic partnerships.

Another investigation regarding a March 2000 deal with business partner Ashford.com alledging dubious accounting and Ashford’s improper deferring of marketing expenses also closed with the SEC and Amazon reaching agreement.

Amazon was warned by the SEC to avoid any such future violations.

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