COMPLIANCE
Macy’s Accountant Hid $154M in Delivery Expenses
If you’re an accountant and you ask your boss for raise next time, bring up this case study and tell your boss be glad you didn’t do this: an accountant at department store Macy’s managed to hide $154M erroneously reported as “delivery expenses”.
Investigation is on-going…
M&A
Mubadala Takes Canadian Asset Manager Private
As a part of Abu Dhabi’s Mubadala Capital’s recent North American buying spree, the Middle-Eastern’s fund is taking Canada’s largest independent asset management firm, CI Financial, private.
The Canadian firm has $513 billion in assets and is valued at $4.7 billion based upon this deal.
While the deal is still awaiting approval by the Canadian government.
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