According to this accounting and finance article, Microsoft Corp.'s search-technology unit Fast Search & Transfer is facing a police investigation in Norway concerning possible financial-accounting irregularities.
Norway's financial supervisory organization, Kredittilsynet, said Fast Search's accounting may have broken the law in addition to violating accounting standards. It reported the matter April 24, 2008, to the Norwegian National Police's financial unit, according to a statement issued by Kredittilsynet.
That unit referred the matter last week to the Oslo District Police. It further described the matter as "grave" because of the way the accounting had been handled, and the size and impact of the figures involved. The National Police said it decided not to pursue the matter itself due to lack of capacity.
The investigation was reported on Portfolio magazine's Web site.
Microsoft said in a statement it takes "any matter of this nature very seriously, and we are fully committed to taking all appropriate actions to ensure consistency with the company's core values."
Microsoft acquired Fast Search in late April for $1.2 billion as part of its effort to gain momentum against Web-search leader Google Inc.
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