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SEC Fines InterPublic Group $12 million for accounting fraud

May 1, 2008

The Interpublic Group, the large advertising company, agreed on Thursday to pay a $12 million fine to settle a Securities and Exchange Commission investigation into its accounting practices.

The issue was one of accounting fraud in intercompany transactions at McCann Erickson, Interpublic’s flagship unit. The regulators accused McCann Erickson of fraudulently misstating its results by recording as receivables intercompany charges that should have been booked as expenses.


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Nice! Really nice! Let me open up two divisions here… send money back and fourth… and use the same money to count both as a profit…

Written by TheFounder · Filed Under Advertising Agency News 


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    [...] advertising/media contract with the Census Bureau, I learned that this firm’s parent company, Interpublic Group was forced to pay a $12 million fine to the SEC for accounting fraud in 2008 and also owns a 49% [...]

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