Alliance Imaging -Deloitte made accounting errors

Accounting related mistakes are NOT an option. Alliance Imaging, a client of Deloitte & Touche, was forced to restate income for 3 years.

Why? Deloitte made an accounting mistake. This is the second time a client of Deloitte has been forced to restate reports due to mistakes found by PCAOB. The mistake dealt with arcane issues related to interest swaps. The review may also uncover Sarbanes-Oxley flaws along the way-no word yet. These restatements can also sppawn shareholder suits.

Reminder: Jail is an option-but a bad one-if you are not complint. Do you remember the mess with Adelphia and Deloitte? Well Deloitte & Touche has agreed to pay $167.5 million to settle that case. Deloitte and convicted John Rigas still claim that nothing went on at Adelphia. The court process did'nt think so-he'll be crying to jail mates soon as he is scheduled to check in to the concrete hotel very soon.