Kinross settled SEC findings over accounting controls at African subsidiaries
Company: Kinross Gold Corporation
Summary
On March 26, 2018, Kinross Gold Corporation agreed to pay $950,000 to settle a U.S. Securities and Exchange Commission action. The SEC found that after acquiring mining operations in Mauritania and Ghana in 2010, Kinross failed to devise and maintain sufficient internal accounting controls and books-and-records controls at the subsidiaries for several years. The settlement resolved books-and-records and internal-controls violations; it was not a bribery conviction, and Kinross neither admitted nor denied the findings. Primary source: https://www.sec.gov/newsroom/press-releases/2018-47