All That Money Was Just A Typo
from the hard-to-believe dept
While the NY Times last week did some good investigative reporting to find out that Computer Associates may have been cooking the books, there’s now a simpler explanation to all the trouble. Computer Associates has now admitted that in their most recent filing there was a “typo” claiming they had a profit of $0.40/share rather than the actual $0.16/share. That is quite a “typo”. It’s a bit hard to believe that no one noticed that this “typo” gave the company more than twice the profits it actually had. From now on whenever I get caught being wrong about anything I’m going to claim it was just a typo. I wonder who the sacrificial lamb is going to be who gets fired for incorrectly proof reading the financial statements.