in CFO Profiles & Perspectives by feishusong, 17-11-11 04:48|
Mar 02
2011
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Weatherford reports $500 million tax errorPosted by Stephen Taub in material weakness, internal controls, income tax, errors, compliance |
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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.
