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German authorities are looking into various allegations, including that company money, amounting to possibly euro420m ($550m), was siphoned into secret accounts to sweeten potential customers.Apple Computer delayed filing its annual report (for the year to September 30th) because it needs to restate some earnings to account for stock-option grants.
This group includes notorious cases such as AIG and Fannie Mae, but also Delphi, a big car-parts manufacturer with close links to General Motors that has said it needs to restate its accounts back to 2001, and the Interpublic group of advertising agencies.Moody's, a front-line consumer of financial reports, takes a positive view of the impact of section 404.
Krispy Kreme Doughnuts needs to restate past profits downward by $25.6 million, says a report from a special committee investigating the Winston-Salem, N.C.-based doughnut maker's financial statements.
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The bank is also reviewing whether it may need to restate its 2007 results.
She takes it that we are sophisticated enough to understand its primacy, and doesn't need to restate it.
A Boston Scientific spokesman, Paul Donovan, said the company did not need to restate results from any other quarter.
"Europeans are clearly understanding that we need to restate the military option in order for things to move," the senior Israeli official said.
Computer Sciences said in February that it needed to restate more than a decade of results by about $59 million to account for backdated stock options.
But the market took another blow early Friday, when Xerox announced that it needed to restate $6.4 billion in revenue over five years.
After the power deal, PricewaterhouseCoopers determined there was no need to restate the first-quarter profits, people close to the deal say.
In a filing with the commission, the company said it needed to restate historical financial statements to record charges for compensation related to past grants.
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