Yahoo's picture of IPG

The news about IPG got worse, with the mega agency conglomerate indicating it will not only be late on its financials for last quarter, but possibly this one and the next one, as it tries to find out just how inaccurate its past accounting has been. It said it would answer questions in a conference call on April 5. A Sarbanes-Oxley Act-required examination found widespread "material weaknesses" in the firm's financial controls. To date the company has found $145 million of revenue and $25 million in profits improperly recognized.