Aon Corp. in August revealed that it may have to restate several years' earnings after regulators questioned its accounting practices. The Chicago-based insurance broker also put its underwriting unit up for sale, dropping plans to spin it off.The Securities and Exchange Commission questioned several items in Aon's accounts, including the reporting of investment write-downs, the timing of some costs and a reinsurance recoverable item and the decision not to consolidate certain special purpose vehicles.
Aon executives say the company may have to restate earnings for the past three years, if the SEC says it is necessary.
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