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Dell Finds 'Evidence of Misconduct'

Dell shares fell by 4% in late trading Thursday after the company once again delayed its annual report because of growing accounting concerns. Dell said its Audit Committee has identified "a number of accounting errors, evidence of misconduct, and deficiencies in the financial control environment." The 2nd PC-maker did not release any details regarding the discrepancies. The committee is working with company management and auditors to determine if the accounting errors "necessitate any restatements of prior period financial statements, and to assess whether the control deficiencies constitute a material weakness in Dell's internal control over financial reporting," Dell said. The report for the fiscal year ended Feb. 2 was initially due April 3, then extended to April 18. Dell did not provide a new date for the filing.

News source: InternetNews

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