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AIG to Restate Past Financials as Internal Audit Continues; Acknowledges Lack of Internal Controls

National News • May 2, 2005
American International Group Inc. said that it has decided to restate financials from several previous years and that preliminary results of its internal audit show its 2004 results should be ...

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Subject: RE: AIG accounting mess

Posted On: May 2, 2005, 8:59 pm CDT
Posted By: Concerned
Comment:
All of these failures, accounting errors, improper allocation of assets, insufficient risk transfers, erroneous valuation of assets, improper conversion of capital gains into income, improper classification of underwriting losses as captial losses- all of these things that are being uncovered go back a mere 4+ years to 2000.
You mean to tell me Hank and his boys only turned sour since the year 2000?
These practices to varying degress have been going on for 25 years at the least.
What a terrible, smelly mess AIG is in.
Subject Posted By Posted On
RE: AIG internal controls & unpaid agent Unpaid AIG Agent
May 3, 2005, 2:32 pm
RE: AIG accounting mess Concerned
May 2, 2005, 8:59 pm
AIG accounting mess small investor
May 2, 2005, 5:36 pm
AON Laid Off 110 ACS Employees in Los Angeles Johnny
May 2, 2005, 12:57 pm
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