Re: Wouldn't this be a SOXX issue too?
AFAIK, what is acceptable under US accounting rules and regs is not necessarily acceptable under UK accounting rules and regs and vice versa. Or at least that was the argument (and continues to be the argument that Mike Lynch et al are using in the UK court case papers). Their reasoning was that it was acceptable under UK rules to book revenue in a certain way. The SFO investigated (or glanced over, who knows) and found no case to answer (which is why HP(E) took them on in a civil case).