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.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements