Hisao tanaka toshiba laptop
Hisao tanaka toshiba laptop
Toshiba laptop drivers.
Toshiba's Accounting Scandal: How It Happened (OTCBB: TOSBF)
On July 21, , Toshiba (OTCBB: TOSBF) CEO Hisao Tanaka announced his resignation in the face of an accounting scandal tied to $ billion in overstated operating profits.
Details of the scandal emerged the day before when an independent investigative panel released a report describing the accounting improprieties in detail. Improper accounting was found to have taken place over seven years, embroiling two former CEOs in the scandal alongside Tanaka.
The investigative report revealed that the CEOs did not directly instruct anyone to cook the books but rather placed immense pressure on subordinates and waited for the corporate culture to turn out the results they wanted.
Key Takeaways
- Toshiba, a Japanese conglomerate, overstated profits by $ billion in a scandal that resulted in its CEO's resignation.
- The scandal was directly linked to unscrupulous accounting practices, such as booking future profits early,