(Bloomberg) International Business Machines Corp. said the U.S. Securities and Exchange Commission doesn’t plan to recommend enforcement action against the company after probing how it reports revenue from offsite cloud services.
The SEC concluded its investigation into IBM’s accounting methods last week, the company said Monday in a filing. The probe, which the company learned about a year ago, examined sales for services delivered over the Internet, such as storing customers’ data and software applications. IBM stood by its accounting methods and said it cooperated with the SEC.
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