Dell Accountants Spank Themselves

[Nomad559]

http://www.theregister.com/2007/08/16/dell_probe_results_released/

Dell has released the results of its internal accounting probe today, stemming from allegations they mis-dated earnings or backdated share options to reach their financial goals.

The probe has obviously been a huge thorn in the computer maker's paw, delaying the filing of current financial results and prompting an expensive corporate restructuring.

The company will restate all the company's financial results relating to the fiscal years 2003, 2004, 2005 and 2006.

The restated earnings will correct the accounting shenanigans identified through the investigation. Dell said it expects the restatement to have the following effects on the bottom line:

[whistle]

1. Were these CPAs who did this? If so, they ought to lose their licenses to practice

...Certified Public Accountants have a fiduciary responsibility to ALL OF THEIR PUBLICS! Fraud is not part of what they are suppsoed to do :wtf:

[Trillo]

2. I've read so many of these restatements over the years since 2000

that I simply presume that anyone wearing a suit is a bald faced liar, cannot be trusted, and is trying as hard as they can to slip the knife in my back.

I feel so bad for all those young kids that have ever been punished for lying. Who knew ... it was the prerequisite to success.