(This version of the Feb. 6 story corrects paragraph 1 to drop reference to improper tax accounting)
(Reuters) - EBay Inc said on Monday it had identified a deficiency in the effectiveness of a control related to its tax accounting, which constituted a material weakness.
However, eBay said it would not have to restate financial results for any prior period due to the issue, which impacted the deferred tax asset and income tax benefit accounts. http://bit.ly/2kkBI5r
The company said it plans to implement certain reviews and documentation standards by the first quarter, and expects to remedy the issue by the end of this year.
(Reporting by Narottam Medhora in Bengaluru; Editing by Savio D'Souza)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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