Four years of Dell results to be restated

Followed the conclusion of a year-long audit committee investigation,
computer giant Dell has announced that it is
to restate four years of financial results.

The investigation found that unnamed ‘senior executives’ had used improper
accounting tricks to meet quarterly performance targets.

Dell’s audit committee found evidence that the balances of certain accounts’
had been ‘reviewed, sometimes at the request or with the knowledge of senior
executives, with the goal of seeking specific individuals’.

The SEC is continuing to conduct its own
investigation into the matter.

Further reading:

Dell to delay quarterly filings

Dell investors look beyond accounting problems

Internal audit delays hit Dell

Related reading