Freddie Mac Delays 1Q03 Earnings Release As Accounting Revisions Still Underway
March 28, 2003
Freddie Mac was forced to take the unusual step of delaying what is otherwise expected to be a favorable first-quarter earnings announcement as accountants continue to rework the company’s books for the past three years. The government-sponsored enterprise embarked on a huge accounting project early this year in which it will restate its financial results for all of 2000, 2001 and 2002. The revisions