A US court has dismissed all pending charges against the CA inc, (the company
formerly known as Computer Associates) in
connection with improper accounting of software licensing revenue.
The company said it had satisfied the terms of a deferred prosecution
agreement, which arose out of the criminal conduct by certain former executives
in failing to record, within the proper quarter, revenue associated with certain
software license agreements.
Last month, Charles
Wang, co-founder of Computer Associates was blamed for accounting fraud at
the company following the release of a report by a special committee of the
Earlier this year, former CA CEO
Sanjay Kumar, was
ordered to pay more than ?500m in restitution to victims of securities fraud he
committed while at the company.
Kumar also faces 12 years in jail following his conviction for obstruction of
justice and securities fraud.
Does Darwin's theory apply to taxation? Colin ponders...
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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