Feeds

Michael Dell 'not involved' in accounting fraud

Buck, what buck? Must have passed it along...

Internet Security Threat Report 2014

Michael Dell, CEO of Dell Computers said Wednesday he was not involved in any of the accounting monkeyshines uncovered during an internal probe at the company.

Dell's remarks at the Citigroup technology conference in New York is the first time he has publicly commented on his participation — or lack of participation — in the financial scandal.

"I was not involved in or aware of any of the accounting irregularities," Michael Dell told investors at the conference. "Certainly I'm not proud of what occurred at our company, but I am proud of the company overall, and I take responsibility for making sure those issues are addressed."

The investigation, spurred by the US Securities and Exchange Commission's (SEC) recent war on Silicon Valley backdating, found that account balances were fixed to show quarterly performance objects had been met. This was revealed to be sometimes done at the request or with the knowledge of senior executives.

The company has yet to restate its revised financial results for the time in question (2003-2006), but total income is expected to be reduced by about $150m. The financial book-cooking occurred in years during which Dell was CEO, when he handed the spot to Kevin Rollins in 2004, and when Dell reclaimed the position in February of this year.

So will the corporate self-hand washing properly appease the feds? The SEC is still investigating Dell's accounting issues, but has yet to take any action against the company.

"What you have now at Dell is really a new team that is addressing all of the issues that were raised in the investigation," Dell said.

The company said it has since sacked, reassigned or reprimanded those involved — although they won't say who the executives are, and if they are still working for the company.

As previously seen at Apple, the blameless CEO arises — a virginal figurehead perched upon the prow of a blood-soaked pirate ship. Its eyes on the clear blue vastness ahead, cleanhanded and unawares of the skullduggery committed within its hull.

So we're waxing metaphorically, but it's hard not to when everyone paints such a pretty picture. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Will.i.am gets CUFFED as he announces his new wristjob, the PULS
It's got four KILOWATTS of something, apparently
Don't wait for that big iPad, order a NEXUS 9 instead, industry little bird says
Google said to debut next big slab, Android L ahead of Apple event
Netscape Navigator - the browser that started it all - turns 20
It was 20 years ago today, Marc Andreeesen taught the band to play
A drone of one's own: Reg buyers' guide for UAV fanciers
Hardware: Check. Software: Huh? Licence: Licence...?
Jaguar Sportbrake: The chicken tikka masala of van-sized posh cars
Indian-owned Jag's latest offering curries favour with us
iPhone 6 shunned by fanbois in Apple's GREAT FAIL of CHINA
Just 100 Beijing fanbois queue to pick up new mobe
The Apple launch AS IT HAPPENED: Totally SERIOUS coverage, not for haters
Fandroids, Windows Phone fringe-oids – you wouldn't understand
Here's your chance to buy an ancient, working APPLE ONE
Warning: Likely to cost a lot even for a Mac
Is living with Dolby Atmos worth the faff?
Subtle, naturalistic ambiance – perfect for Transformers 4
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.