Dell founder drawn into accounting scandal
Executives adjusted accounts to meet financial goals
Michael Dell, the
founder of computing group Dell, has been
drawn into the accounting debacle at the company, after it announced last week
that it would have to restate four years of financial results.
Dell returned as CEO in January, but he was chairman from 2002 through to
early 2006, when the adjustments were made. US analysts have now thrown his name
into the mix.
This follows a Dell-sponsored investigation which found that executives
routinely adjusted accounts to meet financial goals.
An internal audit by Willkie Farr & Gallagher and KPMG uncovered
adjustments to reserve and accrued-liability accounts and
Further reading:
Dell investors look beyond accounting problems