Boston–Company boards examining finite insurance transactions need to scrutinize them carefully, but need not dispense with them altogether, a regulator told an industry conference here.
Audrey Samers, deputy superintendent of the New York Department of Insurance, made her comments as an accounting professional reported that corporate directors are backing away from finite deals and equating them with fraud.
Finite deals have come under scrutiny since federal and state investigators turned up evidence that some have involved hidden side agreements and been used as an improper accounting device to improve company financial statements.
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