Accountancy Age, Accountancy Age, Tuesday 31 August 2010 at 09:30:00

Senior accountants accused of manipulating financial position

Two accountants from computer manufacturer Dell were accused of keeping?cookie jar? reserves to cover shortcomings in financial performance.

Former chief accounting officer Robert Davis and former assistant controllerRandall Imhoff were accused of manipulating manipulating financial statements tomeet earnings targets in a statement released by the US Securities and ExchangesCommission,Reutersnews agency reports.

Previously the computer manufacturer paid $100 million to settle a case bythe SEC accusing it of using hidden payments from Intel Corp.

Further reading:

U.S.SEC sues ex-Dell accountants over fraud