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The story seems to say the the cooked books were of a minor nature, but that it didn’t keep a number of heads from rolling.  The SEC will have the final word as always however.

DELL, once the giant of the personal computer industry, has admitted that senior company executives “cooked the books” to hide declining sales and lacklustre company performance.

Heads have rolled, and founder, chairman and recently resumed chief executive Michael Dell has foreshadowed a shake-up.

The company has admitted manipulation of figures covering the fiscal years 2003 to 2006 and the first quarter of 2007, and will now revise its financial statements for those periods.

More than four years’ earnings will be reduced by up to $US150 million ($A183 million).

Some analysts have questioned the impact of these revelations on Dell’s future, and the company has said there will be no material impact on second-quarter 2007 results.

 Story link: http://www.theage.com.au/news/business/ding-dong-dell-the-fiddled-finances-are-in-the-well/2007/08/17/1186857772386.html

(I love the title of the original story)

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