Error
  • JUser::_load: Unable to load user with id: 67

Featured Articles

Intel releases tiny 3G cell modem

Intel releases tiny 3G cell modem

Intel has released a 3G cellular modem with an integrated power amplifier that fits into a 300 mm2 footprint, claiming it…

More...
Braswell 14nm Atom slips to Q2 15

Braswell 14nm Atom slips to Q2 15

It's not all rosy in the house of Intel. It seems that upcoming Atom out-of-order cores might be giving this semiconductor…

More...
TSMC 16nm wafers coming in Q1 2015

TSMC 16nm wafers coming in Q1 2015

TSMC will start producing 16nm wafers in the first quarter of 2015. Sometime in the second quarter production should ramp up…

More...
Skylake-S LGA is 35W to 95W TDP part

Skylake-S LGA is 35W to 95W TDP part

Skylake-S is the ‘tock’ of the Haswell architecture and despite being delayed from the original plan, this desktop part is scheduled…

More...
Aerocool Dead Silence reviewed

Aerocool Dead Silence reviewed

Aerocool is well known for its gamer cases with aggressive styling. However, the Dead Silence chassis offers consumers a new choice,…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Wednesday, 26 September 2007 10:35

EDS settles over accounting irregularities

Written by

Image

SECS and violence

 

Electronic Data Systems will pay $500,000 to settle an investigation into accounting irregularities.

The Securities and Exchange Commission posted the settlement on its website saying that EDS failed to fully disclose the costs of some derivatives contracts.

The company used faulty assumptions to estimate revenue and expenses for a large contracts and didn't adequately disclose "an extraordinary transaction" with a major customer that boosted EDS's reported cash flow by $200 million in 2000.

SEC did not like the fact that a former employee bribed officials in India. As part of the settlement, EDS neither admitted nor denied wrongdoing although one wonders why they paid $500,000 if they had done nothing.

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments