Imagine this. A company has a financial hole that’s $92.9 million big. As a publicly-listed company, they have to report it and issue a public statement, which they do.
So this is how one newspaper, The Washington Post, reported the news yesterday:
McLean technology consulting company BearingPoint Inc. said yesterday that its chief financial officer, Robert S. Falcone, would retire on Nov. 30. Also yesterday, the company said it found a $92.9 million accounting error in its third-quarter balance sheet. BearingPoint spokesman John Schneidawind said that Falcone’s departure and the accounting error were not related.
I don’t know this company and I have no knowledge of any background behind its announcement. But I know what a PR fudge looks like.