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The chairman said there were "material inaccuracies" in the analyst note, without being more specific, and insisted he was "absolutely satisfied that our accounting policies are appropriate".
Schillings has since been in touch with Ariel and Broadcast magazine, which followed up the report, complaining that their articles carried material inaccuracies.
A DfE spokesman said: "We are pleased the NAO has found no material inaccuracies in the financial statements of the department, the Education Funding Agency and the 3,905 academy trusts included in this report.
A DfE spokesman pointed out that the NAO had not found any material inaccuracies but acknowledged that the task of consolidating the accounts of thousands of academies was "enormous".
Mr. Loeb's full letter is below: Dear Board of Directors: Yahoo!'s initial response yesterday to Third Point's identification of material inaccuracies in both CEO Scott Thompson's and Director Patti Hart's educational record was insulting to shareholders.
The judge, Sir Charles Gray, ruled that Bates had committed "grave" libels against Levi, saying Bates's chairman's articles, about a dispute he had had with Levi after Bates and the Cayman Islands-registered Forward Sports Fund had taken over Leeds from Levi's "Yorkshire consortium" in 2005, were "riddled with material inaccuracies".
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If an article has been edited since publication to correct a material inaccuracy, a note will be added at the end of the text to signal to the reader there has been an amendment or correction with the date of that change.
Attempt has been made to understand the sensitivity of parameters like variation in material properties, inaccuracies in placement of reinforcement, effect of confinement of concrete and modelling techniques for elements and plastic hinges.
The Real deal The quiet iconoclast Reprints Related items Marks & Spencer: Buying the storeJun 3rd 2004The M&S board, which complains of "material factual inaccuracies and innuendo" in some of the newspaper reports, says it is standing behind Mr Rose.
His aim was to paint a portrait; and though this led to caricature and sometimes, through tendentious selection of material, to inaccuracy, he taught biographers a sense of form and of background, and he sharpened their critical acumen.
He said that CBS, in reviewing its obituary material, had found inaccuracies.
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