Unformatted text preview: $10 million US civil penalty, the biggest fine in an SEC investigation of financial reporting. The revision would see Xerox change the way it books lease revenue and could ultimately see a reallocation of $2 billion US in revenues for 1997 to 2000. The settlement must still be approved by the SEC. The investigation into allegations that the company prematurely booked revenues dates back to June 200. Just yesterday, David Duncan pleaded guilty to charge of obstruction of justice in another accounting scandal. Duncan was the lead auditor for Arthur Andersen on the Enron file. He said he persuaded Andersen employees to destroy documents and wipe out emails related to Enron....
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- Fall '05
- U.S. Securities and Exchange Commission, Arthur Andersen, Xerox Corp., Xerox chairman Paul, Xerox executives