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.

Related Articles

CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

4m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

4m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

7m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

7m Emma Smith, Managing Editor
Double digit profits rise for Smith & Williamson

Accounting Firms Double digit profits rise for Smith & Williamson

8m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

7m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

7m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

7m Emma Smith, Managing Editor