CA finance chief pleads guilty in audit probe

The former vice president of finance of US company Computer Associates (CA), has pleaded guilty in an audit probe case.

The former vice president of finance of US company Computer Associates (CA), has pleaded guilty in an audit probe case.

US prosecutors and the Securities and Exchange Commission have spent two years investigating whether the software giant inflated its revenue by more than $500m (€413m) in 1998-99, in order to line senior management's pockets.

According to the Wall Street Journal, David Rivard admitted in court to helping backdate contracts worth hundreds of millions of dollars to make the company's quarterly earnings look higher than they really were.

The former chief financial officer, Ira Zar, and David Kaplan, a former senior vice president, are also reportedly going to plead guilty in the case, according to the paper.

Specialising in security systems and database management, Computer Associates became the first software firm to clock up $1bn (€0.82bn) in sales in 1989.

More in this section

Lunchtime
News Wrap

A lunchtime summary of content highlights on the Irish Examiner website. Delivered at 1pm each day.

Sign up
Revoiced
Newsletter

Our Covid-free newsletter brings together some of the best bits from irishexaminer.com, as chosen by our editor, direct to your inbox every Monday.

Sign up