GOODYEAR SCANDAL
February 1st, 2004
BY PHILIP FINE
THE RECENT announcement of an investigation of Goodyear Tire & Rubber Company by US security regulators can be traced to faulty implementation of new accounting software, says the company. The Securities and Exchange Commission launched a formal investigation February 5 into the company's accounting problems. The tyre manufacturer announced four months earlier that it was restating its financial results for the years 1998-2002, lowering its income in that period by US$84.7 million. Goodyear says one of the factors that led to this discrepancy ...
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