Feeds

Apple may need to restate last 15 quarters

Stock options probe 'likely' to warrant restatements

Application security programs and practises

Apple is "likely" to restate its financial results from 29 September 2002 onwards following the discovery of further evidence of "irregularities" concerning stock options granted between 1997 and 2001, the company warned yesterday.

The Mac maker announced in June that it was commencing a third-party led independent investigation into the mishandling of the options awarded to top executives. The probe will cause the delay of the formal submission of Apple's Q3 results to the US Securities and Exchange Commission, the company also said yesterday.

That implies the numbers may have to be changed, a likelihood signalled by the announcement that the company may have to restate all its quarterly figures from Q1 FY2003 - the quarter that kicked off on 29 September 2002 - onwards. Apple's choice of words suggests it almost certianly will post new figures from then to now.

The announcement will fuel the lawsuits already underway against the company, filed in the light of its June revelation by investors who reckon they lost out as a result of the company's actions. ®

The Power of One Infographic

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.