Dell audit reveals numerous accounting mistakes

Round Rock (TX) - Dell won’t be filing its annual report on time this year, as a result of an internal audit that determined evidence of misconduct in the firm’s accounting practices.

In a statement, Dell said it will take appropriate measures and complete a "thorough and comprehensive review". According to the company’s audit committee and other internal auditors, the full scope of the misconduct has not yet been cleared up.

However, the faults stem partly because of a lack of strong financial controls, the company said. It is still under investigation how much of the "mistakes" were caused by intentional accounting manipulation.

Because of the new events, Dell will not file its annual report on the previously scheduled April 3 date, and will also not be able to make an extension deadline of April 18.

Dell has faced multiple setbacks in the past few years with Securities and Exchange Commission (SEC) probes and lower-than-expected earnings. This led to tension within the company, causing Dell to cancel an analyst conference call last September.

Dell’s chief financial operator was replaced in December, after the former CFO Kevin Rollins left in the wake of the turmoil.