1:05 PM -- The accounting saga at Dell continues to rumble on, posing a question mark over the vendor's long-term storage strategy.
Documents filed yesterday with the SEC reveal that Dell is delaying the filing of its Form 10-Q for the quarter ended May 4 due to questions raised by the ongoing probe into the firm's books.
The SEC, as well as Dell's own Audit Committee, are currently investigating the vendor's previous financial statements. Last November, the firm also received a related subpoena from the U.S. Attorney for the southern district of New York.
The last year has been a difficult one for Dell, characterized by lost market share, job losses, executive turnover, and the constant shadow of the accounting investigation. In March, the vendor reported that costs associated with the probe had already taken a hefty $89 million bite out of operating income. (See Dell Details Ongoing 'Pressure'.)
Yesterday's filing reveals that the investigation is now in its "final phases," adding that the Audit Committee "is in the process of reviewing each of the identified accounting errors and proposed correcting adjustments."
With the move to the cloud, CISOs must shift priorities from operating security programs to overseeing (monitoring and auditing) outsourced cybersecurity programs.
2022 was a boon year for IT salaries. 2023 came in like a beast with layoffs, raise freezes, and ChatGPT, but that beast has few teeth.
Age is only a number. Don't let a high number cancel your career.
