UNITED STATES: Earnings 'smoothing' remains widespread
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In this article
- Nasty surprises
- Understated sub-prime damage?
- Lax regulators?
- Few prosecutions
- Treasury perspective
- Materiality of restatements
- Investor confidence
- Earnings manipulation evidence
- Incentives to cheat
- 'Legitimate' manipulation
- SOX impact?
- Economic consequences
- Inefficient investment
- Management 'short-termism'
- Pressure to 'massage' earnings
- Aggressive accounting
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