Jail is not for Big Pharma In the largest health care fraud settlement in U.S. history, a federal judge on approved an agreement to fine British
Question

Jail is not for Big Pharma In the largest health care fraud settlement

in U.S. history, a federal judge on approved an agreement to fine British drugmaker GlaxoSmithKline for criminal and civil violations involving 10 drugs. Question: How are fines accounted for in the financial accounting records under GAAP or IFRS? Sources: Associated Press Staff. (2012). GlaxoSmithKline pleads guilty to health fraud, Associated Press, July 5 (Retrievable online at http://www.foxnews.com/us/2012/07/05/glaxosmithkline-pleads-guilty-to-health-fraud/)

Subject: Accounting, Business
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