Related 8K can be found at http://www.pinksheets.com under a search for DELL. (specific URL is too long to post)
"On March 29, 2007, the company issued a press release announcing that the company will delay filing its fiscal 2007 Annual Report on Form 10-K pending completion of the previously announced internal investigation by the Audit Committee of the Board of Directors. A copy of the press release is attached as Exhibit 99.2 to this report."
"Dell also said it would miss an April 18 deadline to file its annual 10K financial report to the Securities and Exchange Commission until the internal review is completed."
"In a short news release, the Round Rock, Texas, company said the internal audit had "identified a number of accounting errors, evidence of misconduct, and deficiencies in the financial control environment."
"The company added in the statement that it was working with management and the company's independent auditors to determine whether the errors would require the restatement of previous earnings reports."
"As we move toward the conclusion of our investigation, we are committing the time and resources required to ensure a thorough and comprehensive review and resolution of all identified issues and the implementation of appropriate remedial measures," Thomas W. Luce III, chairman of Dell's Audit Committee, said in the statement."
This example shows that fiancial reporting delays are related to the completion of internal audits and not the SEC external audit and investigation. It also shows a company that will survive any enforcement actions due to their cooperation.
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