The man, responsible for an almost infinite number of tax irregularities, forced the company to launch an independent forensic accounting investigation.
Macy’s, the US department store giant, was forced to postpone the publication of its quarterly earnings report until December due to a single employee who over the last three years has intentionally concealed the sum of 154 million dollars. The man, responsible for an almost infinite number of tax irregularities, forced the company to launch an independent forensic accounting investigation. The former employee, who no longer works for Macy’s, allegedly “intentionally entered incorrect accounting entries” to hide expenses related to small package deliveries. Macy’s was unable to explain the reason for this behavior.
While the charges in question represent a marginal portion of the $4.36 billion in delivery costs recorded by Macy’s between the fourth quarter of 2021 and the most recent period, the company deemed the errors significant enough to postpone full earnings report due next December 11th. However, the company also assured that these erroneous accounting entries had no effect on cash management or payments to suppliers. The checks carried out so far have found no evidence of the complicity of other employees.
“At Macy’s we promote a culture of ethical conduct. As we work diligently to complete the investigation as quickly as possible and ensure this matter is handled appropriately, our colleagues across the company are focused on serving our customers and execute our strategy for a successful holiday season,” was the note issued by president and CEO Tony Spring.
Source: www.fanpage.it
