Global Crossing said it was reviewing 2002 and 2003 financial sta...
Global Crossing said it was reviewing 2002 and 2003 financial statements out of concern about adequacy of the company’s accrued costs of access liability, access expenses, and the related internal control environment. Global Crossing’s preliminary assessment indicates its accrued…
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cost of access liability -- $150 million at 2003’s end -- was understated by $50-$80 million that year. Its costs of access operating expenses during 2003 were $1.9 billion. The company said it would record expected adjustments of its accrued cost of access liability as a non-cash charge.