Boies and Tyco Int'l--`they still don't get it'. (Commentary)

Accounting Today, April, 2003 by Abraham J. Briloff

"They still don't get it" was my strident response to the report orchestrated by David Boies Esq. in the wake of his law firm's probe of Tyco International, included in Tyco's Form Abraham 8-K filing with the Securities and Exchange Commission for December 2002.

Some background for the probe and the mode of its undertaking: In July 2002, Boies' firm undertook the review and analysis of, and litigation concerning, selected accounting and corporate governance issues and transactions.

The purpose of this work of Boies' firm was discussed with the staff of the SEC. This purpose was to review Tyco's 1999 to 2002 reported revenues, profits, cash flow, internal auditing and control procedures, accounting for major acquisitions and reserves, the use of non-recurring...