Independent auditors have concluded that unexplained accounting irregularities contained in financial statements for Dec. 31, 2005-Sept. 30, 2006 published by the Sagem Defense & Security Division of Safran were due to calculation errors and an inaccurate assessment of the profitability of certain defense contracts. In addition, the irregularities stemmed from noncompliance with prevailing accounting standards and rules - "in some cases deliberate" - the auditors found, adding that ...


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