BusinessCompany NewsApple boss says sorry over accounting debacle

Apple boss says sorry over accounting debacle

Accounting irregularities after internal probe

Steve Jobs, the CEO of Apple, has apologised to shareholders over the way the
company booked stock options in the past after an internal probe uncovered
accounting irregularities between 1997 and 2002.

The probe also showed that Jobs was aware of some options backdating, but the
company claimed he did not benefit from them and was not aware of the accounting
implications.

The three month investigation led to the resignation of former chief
financial officer Fred Anderson from the company’s board of directors.

‘I apologize to Apple’s shareholders and employees for these problems, which
happened on my watch,’ Jobs said in a statement . ‘We will now work to resolve
the remaining issues as quickly as possible and to put the proper remedial
measures in place to ensure that this never happens again.’

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