House Panel Seeks Kmart Records
TROY, Mich. - Kmart Corp. on Friday was asked by the U.S. House Energy and Commerce Committee to turn over records as part of a large-scale probe of the management of some publicly traded companies, The Associated Press reports.
Kmart is one of 13 companies facing questions about their accounting methods that have been asked to turn over information about the qualifications of their directors and the independence of their external auditors.
Kmart spokesman Stephen Pagnani said Monday that the company had not received the request and could not comment.
The retailer has been investigating its own accounting practices and has reposted earnings from 2001 as a result of the investigation.
Kmart also is investigating the way the company was managed under former chief executive Chuck Conaway, and federal investigators are working with Kmart on the probe.
Kmart is one of 13 companies facing questions about their accounting methods that have been asked to turn over information about the qualifications of their directors and the independence of their external auditors.
Kmart spokesman Stephen Pagnani said Monday that the company had not received the request and could not comment.
The retailer has been investigating its own accounting practices and has reposted earnings from 2001 as a result of the investigation.
Kmart also is investigating the way the company was managed under former chief executive Chuck Conaway, and federal investigators are working with Kmart on the probe.
