BusinessCompany NewsAccounting methods at IBM probed

Accounting methods at IBM probed

IBM's accounting practices are at the centre of a new probe by the Securities and Exchange Commission.

Link: Profile: IBM European chief Henrik Hedegaard

The US computer giant said the SEC investigation was focused on its revenue recognition practices in 2000 and 2001, and dealt with ‘certain types of customer transactions.’

A spokesman for IBM said: ‘IBM believes that the investigation arises from a separate investigation by the SEC of a customer of IBM’s Retail Store Solutions unit. This unit markets and sells point-of-sale products.’

It is understood that the SEC review has been widened to include other IBM customers. It is thought that this is the first time an investigation has focused on computer equipment purchases.

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