Archer Daniels Midland Under Investigation by US Justice Department for Accounting Practices

Wednesday, 13 March 2024, 02:36

ADM faces scrutiny from the US Justice Department over its accounting practices. The company has made corrections to past financial results and reported a decline in quarterly sales along with a significant decrease in earnings compared to the previous year. The investigation highlights potential irregularities in ADM's financial reporting, raising concerns among investors and stakeholders.

ADM Discloses Justice Department Probe Into Accounting

The US Justice Department has initiated an investigation into Archer Daniels Midland (ADM) over its accounting practices. The company has acknowledged errors in past financial reports and recorded a substantial decrease in earnings and sales in the latest quarterly results.

Key Points:

ADM under investigation for accounting practices
Corrected financial results due to errors
Quarterly sales decline and more than 40% drop in earnings

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.