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.

Related Articles

HMRC outlines points-based penalty model for MTD

MTD HMRC outlines points-based penalty model for MTD

2d Alia Shoaib, Reporter
GDPR: How legitimate are your legitimate interests?

Regulation GDPR: How legitimate are your legitimate interests?

1w Ian Singer, PKF Littlejohn
Viewpoint: Making Tax Digital is not all doom and gloom

Making Tax Digital Viewpoint: Making Tax Digital is not all doom and gloom

1w Brian Palmer, AAT
Treasury cracks down on Bitcoin amid tax evasion concerns

Regulation Treasury cracks down on Bitcoin amid tax evasion concerns

1w Alia Shoaib, Reporter
AVADO wins award for online ACCA courses

Career AVADO wins award for online ACCA courses

2w Alia Shoaib, Reporter
The role of the accountant as productivity and technology leader

Technology The role of the accountant as productivity and technology leader

2w Receipt Bank | Sponsored
Accountancy in the digital age: Flexibility, agility, efficiency

Accounting Software Accountancy in the digital age: Flexibility, agility, efficiency

2w Pegasus Software | Sponsored
How to get your clients ready for the cloud

Cloud How to get your clients ready for the cloud

3w Sage | Sponsored