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Nortel: Finance Made Us Do It

The 'tone at the top' conveyed the message that earnings targets could be met through application of accounting practices that were not in compliance with GAAP.

> > Nortel Networks singled out improper actions of its finance department yesterday when it reported its long-awaited restatement of results from 2001 through 2003 stemming from an accounting scandal.
In addition, 12 senior executives agreed to return about $8.6 million in bonuses awarded in 2003.
Source: CFO


Published:2005-01-12
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