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Dell lied to auditors




Hardware maker Dell has admitted lying to auditors and will reduce more than four years' worth of earnings by up to $US150 million.

The troubled company also admitted that it manipulated results to meet performance goals.

An internal investigation, which began in August 2006 and evaluated more than five million documents, found there was evidence that adjustments had been made in a bid to get the company looking as if it was meeting targets.

Chairman and Chief Executive Michael Dell said in a statement that he would fire, reassign, reprimand, and punish those the investigation has identified as the problem makers.

More here.

Last modified on 17 August 2007
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