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This was a honest disagreement about accounting procedures.
Still, agency executives said it is unlikely that clients would bolt an agency over irregular accounting practices.
ConAgra Foods Inc. said that fictitious sales and irregular accounting at a unit caused the overstatement of profits for the last three fiscal years.
Its accounting procedures are "not in line with international accounting standards".
Mr. Nicolaisen's statement did not address many allegations raised by Ofheo, like irregular accounting or manipulation of expenses and earnings to earn larger management bonuses.
Among yesterday's winners, shares in General Motors rose $1.95, to $53.45, recouping the $1.58 it lost Thursday on rumors, denied by G.M., of irregular accounting.
Represent robust and transparent accounting procedures.
China's National Audit Office NAOO) said it had discovered evidence of fraud and irregular accounting and procurement related to the project in a second round of accounting.
Internal accounting procedures should ensure that accounts and financial records are accurate for external reporting purposes.
Because of the district's "extraordinary accounting procedures," that figure was 10 times higher than it would have been using conventional accounting procedures, the SEC said.
Establish client record and accounting procedures.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com