Dodgy
What agency, if any, should be informed of a listed company misrepresenting financials? I know that in a quarterly statement they created their numbers.
What agency, if any, should be informed of a listed company misrepresenting financials? I know that in a quarterly statement they created their numbers.
Career Resources
Probably the SEC... @"Edmundo Braverman" could probably tell ya for sure.
I'm going to go out on a limb here and say that if you don't know who to report this to, you probably don't have the expertise to uncover actual accounting fraud.
However, to answer your question: first contact the company's investor relations team to see what explanation they may provide. If it's unsatisfactory, notify the firm's auditor. The SEC will get involved depending on what happens with the auditor.
If the accounting firm is some shady company or if they resign from the account, the SEC will get on the company's trail fairly quickly.
This happened to me with a penny stock some years ago, and I was eventually permitted to join the class action suit against the company in question.
However, I'd just like to reiterate that if the company has committed accounting fraud, someone else is definitely already on this.
Monkeys with better knowledge of this subject should chime in, as well.
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