Feeds

Michael Dell 'not involved' in accounting fraud

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

High performance access to file storage

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. ®

High performance access to file storage

More from The Register

next story
Report: Apple seeking to raise iPhone 6 price by a HUNDRED BUCKS
'Well, that 5c experiment didn't go so well – let's try the other direction'
Microsoft lobs pre-release Windows Phone 8.1 at devs who dare
App makers can load it before anyone else, but if they do they're stuck with it
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Nvidia gamers hit trifecta with driver, optimizer, and mobile upgrades
Li'l Shield moves up to Android 4.4.2 KitKat, GameStream comes to notebooks
Gimme a high S5: Samsung Galaxy S5 puts substance over style
Biometrics and kid-friendly mode in back-to-basics blockbuster
AMD unveils Godzilla's graphics card – 'the world's fastest, period'
The Radeon R9 295X2: Water-cooled, 5,632 stream processors, 11.5TFLOPS
Sony battery recall as VAIO goes out with a bang, not a whimper
The perils of having Panasonic as a partner
NORKS' own smartmobe pegged as Chinese landfill Android
Fake kit in the hermit kingdom? That's just Kim Jong-un-believable!
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.