Document Type
Article
Publication Date
1952
Abstract
Where repsondents, a firm of certified public accountants and a partner therein, certified financial statements in a registration statement found by the Commission to be materially inadequate and misleading in that, among other findings, the financial statements grossly overstated intangible assets as a result of the arbitrary use of the par and stated value of shares of stock issued to acquire the assets, including shares expected to be reacquired from promoters as a donation, and attributed to apparently potentially productive items material amounts which should have been shown as promotion services, held respondents have engaged in improper professional conduct making it appropriate to deny temporarily their privilege of appearing or practicing before the Commission.
Relational Format
article
Series Title
Accounting Series Release No. 073
Recommended Citation
United States. Securities and Exchange Commission, "Findings and opinion of the Commission in the matter of Haskins & Sells and Andrew Stewart, file no. 4-166 (Rules of Practice -- Rule II (e))" (1952). Federal Publications. 159.
https://egrove.olemiss.edu/acct_fed/159