CANADIAN OIL COMPANY FACES ACCOUNTING FRAUD CHARGE

摘要

The US Securities and Exchange Commission (SEC) has charged a Canadian-based oil and gas company and three of its former top finance executives for their roles in what the US regulator describes as 'an extensive, multi-year accounting fraud'. The SEC's complaint alleges that Penn West Petroleum Ltd, which has since been renamed Obsidian Energy Ltd, moved millions of dollars in expenses from operating expense accounts to capital expenditure accounts.