Home Depot Review Finds Unrecorded Options

ATLANTA -- An internal review at The Home Depot Inc. found about $10 million in unrecorded stock option expense, the nation's largest home improvement store chain said Friday, according to The Associated Press.

The Atlanta-based company said the amount is not material and it does not plan to restate any of the past year's financial results, the AP reported.

Home Depot said it conducted a review of its stock option grant practices and procedures since 1996, the AP reported.

Asked if someone or something prompted the review, spokesman David Sandor repeated a company statement that Home Depot "is committed to high standards of corporate governance and transparency in its reporting practices,” the AP reported.

-- NYSSCPA.org News Staff

Posted on 6/16/06