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Improper revenue recognition is just one of many "creative accounting" situations that can expose companies to significant legal liability due to erroneous or false financial statements. Recent cases have highlighted the problem of accounting irregularities, and with the Securities Exchange Commission and prosecutors beginning to crack down on violators, companies and their counsel need to be aware of the risks.
May 03, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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