Accounting irregularities caused Beazer Homes to delay its third-quarter financial report after the company said in a financial filing that it had encountered accounting problems.
The homebuilder's audit committee has been conducting an internal investigation of the company's mortgage origination business, and its legal counsel has retained independent forensic accountants. Beazer said it discovered that its former chief accounting officer may have overstated the amount of reserves and other accrued liabilities in prior accounting periods. The charges related mostly to land development costs and costs to complete houses.
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