Finance ·Computer Sciences

Computer Sciences to restate results, pay $190 million penalty

BYReuters
December 29, 2014, 11:27 PM UTC
To match Special Report SEC/INVESTIGATIONS
A general exterior view of the U.S. Securities and Exchange Commission (SEC) headquarters in Washington, June 24, 2011. The database is emerging alongside a new program by the FBI's criminal profiling group in Quantico, Virginia, that is creating a series of behavioral composites to help agents investigate white collar crime. The more systematic approach by the SEC and FBI comes in response to the growth and complexity of financial crimes in recent years. Picture taken June 24, 2011. To match Special Report SEC/INVESTIGATIONS REUTERS/Jonathan Ernst (UNITED STATES - Tags: CRIME LAW POLITICS BUSINESS) - RTR2PCBJ
Photograph by Jonathan Ernst—Reuters

(REUTERS) – Computer Sciences Corp on Monday said it will pay a $190 million penalty and restate three years of results to resolve a U.S. Securities and Exchange Commission civil probe into the information technologycompany’s accounting.

Computer Sciences (CSC) said there were accounting irregularities at its businesses in the Nordic region, Australia and its contract with the UK National Health Service.

After the restatement, CSC’s net income for will be reduced by about $3.69 billion for the year ending April 1, 2011, while net income will be increased by about $3.90 billion for the year ending March 30, 2012, among other changes.

The restatement will also reflect changes in CSC’s past impairment charges.

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