Accounting Problems

By: Melissa Reynolds
By: Melissa Reynolds

Accounting problems continue to pop up, but Valley companies may have a lower risk.

Virginia based AOL Time Warner is the latest company to come under investigation.

A published report says the Justice Department is looking into several transactions that boosted revenues at the AOL Division.

A local accountant says big, publicly traded companies are more likely to have these problems. Most problems with Valley companies are just accidental errors.

While it might seem easy for bigger companies to hide problems, Scott Beachy says it actually takes a lot of planning.

"In a small case stealing a few hundred dollars can be easy to do. The larger scale that we've been hearing about in my opinion it requires several people to pull it off and a lot of work," Scott Beachy says.

Beachy says most companies have controls in place, like not allowing one person total access to financial information.

50 North Main Street Harrisonburg, VA 22801 540-433-9191 - Switchboard 540-433- 4028 - Fax 540-433-2700 - News Fax

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