Software firm Autodesk announced late Friday afternoon that an ongoing internal review of the company's stock-options grants has uncovered issues with backdating.
The San Rafael Calif.-based company stated its Audit Committee found the dates of certain employee stock option grants issued in the past differ from the actual recorded dates.
Autodesk says any additional non-cash stock-based compensation expense recorded will not affect the companyâ€™s previously reported cash positions or revenues.
The company does expect to incur $4 million in expenses in the third quarter of fiscal 2007 related to conducting the review, including outside legal, accounting, auditing and tax advisors, according to an official statement.
The Securities and Exchange Commission has been actively perusing a number of hi-tech firms as it cracks down on options back-dating - an illegal practice where firms grant stock options from pervious dates to benefit from lower prices.
Apple Computer also announced the discovery of back-dating this week, however none of its current board members were involved.