Online financial publishing company Bankrate Inc. disclosed on Monday that the Securities and Exchange Commission is investigating its financial reporting for 2012 and that its chief financial officer of eight years has resigned.
The SEC is investigating three accruals of revenue together amounting to $781,000 as well as two adjustments to lessen accrued expenses totaling about $850,000, the company said. The agency’s probe focuses on the quarters ending March 31, 2012 and June 30, 2012, and examines whether accounting entries during those times may have had an effect on Bankrate’s reported results, the company added.
