PracticeAuditSEC looking at Lehman accounting for real estate

SEC looking at Lehman accounting for real estate

Watchdog focus switches to fresh accounting concern

Reports have emerged that the chief US financial watchdog is investigating
the accounting for its property portfolio.

A
Wall
Street Journal
story suggests that investigators from the Securities and
Exchange Commission have focused their efforts on whether the failed bank
properly marked down the value of the real estate acquired when it took over
Archstone-Smith Trust.

The WSJ says that former Lehman finance chief Ian Lowitt has hired top
lawyers.

Other accounting policies at Lehman include the now notorious Repo 105 scheme
used to raise short term capital.

Read more:

Do
Repos have a future?

Standards
struggle risk more Lehman style accounting

Ernst
& Young US named in Lehman suit

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