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Tag >> errors
Mar 02

Weatherford reports $500 million tax error

Posted by Stephen Taub in material weaknessinternal controlsincome taxerrorscompliance

Stephen Taub

Weatherford International shook investors and Wall Street when it reported after the market's Tuesday close that it would delay the filing of its 2010 annual report after discovering a material weakness in its internal control over financial reporting for income taxes.

The energy equipment and services provider said errors for the periods from 2007 to 2010 totaled about $500 million.

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