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CSC Finds 10 Years of Accounting Errors

It expects to take a $200 million charge.

SAN FRANCISCO -- Tech services firm

Computer Sciences


told investors Monday that it discovered annual accounting errors stretching back to fiscal 1997.

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Although its review isn't complete, Computer Sciences expects to take a $200 million charge to correct its income tax accounting.

The company also said that it expects to book a material gain from the corrections to its accounting for foreign currency exchange fluctuations.

The company said that it will restate its annual financial report for fiscal 2007 because of errors in accounting for income taxes and foreign currency exchange-rate movements.

In recent after-hours trading, shares of Computer Sciences were off 73 cents, or 1.3%, to $54.61.