Dana to Restate Earnings Over Accounting

http://www.forbes.com/entrepreneurs/feeds/ap/2005/10/10/ap2268763.html

Associated Press
Update 5: Dana to Restate Earnings Over Accounting
10.10.2005, 03:15 PM

Auto-parts maker Dana Corp. said Monday it will restate its earnings for the last six quarters to fix improper accounting and will withdraw its profit forecast for 2005, sending its stock tumbling for the second time within a month.

The company's stock has lost half of its value since mid-September. Shares dropped 33 percent Monday afternoon.

Dana said the restatements for all of 2004 and the first two quarters of 2005 stem primarily from improper accounting for issues involving customer pricing and its commercial vehicle business.

”Ｉｍｐｒｏｐｅｒ　ａｃｃｏｕｎｔｉｎｇ”とは何かというと、

Dana said Monday that it believes it has weaknesses in its internal control over financial reporting. The company has not determined whether the additional revisions to its earnings will be necessary because of the probable weaknesses.

Ｆｉｎａｎｃｉａｌ　Ｒｅｐｏｒｔｉｎｇが問題だったようだ。
Ｃｏｍｐｉａｎｃｅ　Ｗｅｅｋの分析でも、Ｆｉｎａｎｃｉａｌ　ＲｅｐｏｒｔｉｎｇとＲｅｖｅｎｕｅ　Ｒｅｃｏｇｎｉｔｉｏｎで重要な欠陥というのが問題になることが多いとあった。アメリカの車のパーツの会社はＤｅｌｐｈｉにしても経営が苦しいようだが、それだけでなく監査でも痛い目にあうなんて大変だな〜。