”Prosecutorial Bent Shows in SEC Accounting-Fraud Push, Ex-Official Says”

Mary Jo White, chair of the U.S. Securities and Exchange Commission, speaks at The Economic Club of New York, in Manhattan, June 20, 2014

”The Securities and Exchange Commission’s push to step up policing of accounting fraud could have a lasting impact on the agency’s work, bringing more cases related to poor internal controls and more actions against individuals, a top former official said.

Global Financial Literacy – Among Developed Nations, Japan Ranks Low, Just Slightly Higher than Italy

On the link below, you can download S&P's report comparing global financial literacy in various countries.  (See definition below.) S&P asked four simple questions about things like how interest works and ranked countries based on the percent of correct responses.  At 41%, Japan has a relatively low score among developed nations, which ranks it just above Italy in most respects. 

Aplus Magazine: “TOSHIBA’S TRUE COLOURS” (w/quote from BDTI’s Representative Director)

Excerpt:Audit Committee under scrutiny

Toshiba was considered a reform pioneer, first appointing independent directors in 2001. But the company's five-person audit committee – of which two members were former Toshiba executives and two others lacked any business experience whatsover – was a classic study of Japan's corporate insider culture that can often create compliant committees under the thumb of management. …..While the accounting errors probably would have been hard for any audit committee to spot if managers wanted to keep them hidden, this committee composition could not possibly have helped, say Nicholas Benes, Representative Director of the Board Director Training Institute of Japan.