(Photo: REUTERS/YUYA SHINO)
A third-party probe set up by Japan’s Toshiba Corp to investigate its accounting practices has been given a failing grade by half of a group of influential lawyers, who said it was not sufficiently independent and did not examine a key division.
The lawyers’ report, and a call by leader of the group for the investigation to be redone, has added to a storm of criticism about Toshiba’s corporate governance efforts as it seeks to put the $1.3 billion accounting scandal behind it.
The third-party probe found in July that the laptops-to-nuclear power conglomerate had padded profits going back about seven years, blaming aggressive earnings goals and a corporate culture that discourages employees from questioning their superiors.
The original article can be found at reuters.com