Business magazine Forbes released its ranking of "
America's 100 Most Trustworthy Companies" and three Minnesota companies made the list:
Hawkins,
Apogee Enterprises, and
Patterson Companies.
The magazine rated U.S. companies using AGR scores, a statistical method that links accounting reports with financial statements and governance to detect any fraudulent activity. Companies on the list also show positive forecasts for equity returns, and don't have any SEC enforcement actions pending. The analyst firm that provided the rankings, GMI Ratings, noted that 60 different governance and forensic accounting measures were used.
The companies on the list have "consistently demonstrated transparent and conservative accounting practices and solid corporate governance and management," Forbes noted. "They do not play games with revenue and expense recognition, or with asset valuation."