updated 01:25 pm EDT, Tue August 15, 2006
Apple CEO still at risk
Apple CEO Steve Jobs remains at risk of criminal charges related to the company's stock option grant irregularities, which the company announced in late June. Apple at one point did not have an independent compensation committee, and shareholders are concerned that Jobs may have been implicated in the options case, according to Macworld UK. Apple elected not to begin expensing stock options until 2004, when the Financial Accounting Standards Board (FASB) insisted that all companies charge options against company profits. "Because stock options are now accounted for as an expense, companies who secretly backdated grants will have been overstating their profits in recent years and may have to pay higher taxes in future years," wrote The Independent.