SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : A to Z Junior Mining Research Site
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: 4figureau who wrote (686)7/18/2002 9:47:40 AM
From: 4figureau  Read Replies (1) of 5423
 
AOL Says Accounting 'Was Appropriate'






Thursday, July 18, 2002; Page A16

AOL Time Warner Inc. yesterday issued the following statement from John Buckley, executive vice president for corporate communications for the online unit:

"The accounting for all of the transactions The Washington Post has discussed with AOL was appropriate and in accordance with GAAP [generally accepted accounting principles]. The disclosures in AOL's financial statements were also appropriate and accurate.

"AOL's independent auditors, Ernst & Young, specifically reviewed all but one of these transactions at the time they were accounted for. Moreover, since the Post contacted AOL, Ernst & Young has confirmed in writing that the accounting and related financial statement disclosure for all of the transactions were appropriate and in accordance with Generally Accepted Accounting Principles.

"Moreover, the facts show that AOL has maintained a strict and effective set of internal controls, a point underscored by the Post's own reporting.

"Finally, it should be noted that, in their entirety, the transactions cited by the Post comprised less than two percent of AOL's revenues during the same period, and accounting for them differently would have had no impact on the Company's net income."

washingtonpost.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News