IMAX CFO quits

The chief financial officer of giant movie screen company IMAX, which is currently subject to an accounting investigation, has resigned. Frank Joyce's action in stepping down from the company follows his announcement earlier this month that the US Securities and Exchange Commission and the Ontario Securities Commission are conducting formal inquiries into the Canadian firm's revenue recognising methods. In a statement IMAX said 53 year old Joyce, who is to become CFO of Macquarie Bank, informed the company "several months ago of his desire to pursue other professional opportunities".

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