Toshiba: the nightmare continues

Stefan Mileschin · 1st September 2015, 11:26

Toshiba was supposed to announce its annual financial results today but that was not to be because it has discovered extra accounting errors to compound the “errors” that caused a change of management to the top.

Toshiba delayed its financial results in March after accounting discrepancies forced the management to be replaced by a fresh team of unsullied people were voted on to its board.

According to Reuters, the latest discrepancies relate to problems at a US subsidiary and some errors on charges on fixed assets at several other subsidiaries.

CEO Masashi Muromachi said he couldn’t apologise enough for the trouble caused by the Toshiba errors but would now announce its financial results on September 7.

Muromachi said Toshiba had discovered 10 new instances of accounting mistakes and said that if he couldn’t meet the new deadline he might resign.

But that would likely lead to more turmoil at Toshiba because he was appointed first as interim CEO and then as permanent CEO.

http://www.techeye.net/business/tosh...mare-continues

1st September 2015, 11:26	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,462	Toshiba: the nightmare continues Toshiba was supposed to announce its annual financial results today but that was not to be because it has discovered extra accounting errors to compound the “errors” that caused a change of management to the top. Toshiba delayed its financial results in March after accounting discrepancies forced the management to be replaced by a fresh team of unsullied people were voted on to its board. According to Reuters, the latest discrepancies relate to problems at a US subsidiary and some errors on charges on fixed assets at several other subsidiaries. CEO Masashi Muromachi said he couldn’t apologise enough for the trouble caused by the Toshiba errors but would now announce its financial results on September 7. Muromachi said Toshiba had discovered 10 new instances of accounting mistakes and said that if he couldn’t meet the new deadline he might resign. But that would likely lead to more turmoil at Toshiba because he was appointed first as interim CEO and then as permanent CEO. http://www.techeye.net/business/tosh...mare-continues

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
The gizmo recreating smells in VR looks like a nightmare	Stefan Mileschin	WebNews	0	9th March 2015 06:36
Qualcomm’s Chinese nightmare to spread	Stefan Mileschin	WebNews	0	30th December 2014 06:12
Sexism makes hacker conferences a nightmare	Stefan Mileschin	WebNews	0	14th August 2012 06:47
Alan Wake's American Nightmare Technical Review @ Rage3D.com	Stefan Mileschin	WebNews	0	22nd May 2012 08:05
Coalition to bring in nightmare version of Big Brother law	Stefan Mileschin	WebNews	0	3rd April 2012 06:40
Chrome is a security nightmare, indexes your bank accounts	jmke	WebNews	0	4th September 2008 14:27
IE7 Compatibility a Developer Nightmare	jmke	WebNews	0	8th January 2007 12:06
Microsoft's nightmare inches closer to reality	Sidney	WebNews	0	24th September 2005 03:09
Gutless PC vendors terrified by nightmare AMD Intel clash	Sidney	WebNews	1	5th July 2005 07:25
2.6c overclocking nightmare	lapino	Hardware Overclocking and Case Modding	7	8th July 2003 21:19