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Computer Associates (CA) has just joined the ranks of companies having to restate earnings. Financial discrepancies relating to 10 past contracts mean the accounts for five years are out.

Embarassingly for CA, this will be the second time in 18 months that accounts will have to be restated. Last time, the scandal cost CA's CEO his job.

Additionally it is delaying its full year accounts by a month.

The news is on top of already bad trading news, with net income for the fourth quarter dropping from $89m (£48m) to $17.

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