November was a tough month for Interpublic Group (IPG), the world's second-largest advertising group. After the company had to revise its earnings from 1996 to 2002 for a third time in four months, the SEC decided to investigate the company's accounting. The accounting irregularities were traced to improperly expensed activities by various European offices at McCann-Erickson World Group, IPG's largest division, when working for the same global clients.
In light of the unfortunate and embarrassing series of earnings restatements, CNN (November ...