American computer manufacturer Dell has today announced that it is getting closer to finalising investigation into accounting irregularities and the conduct of CEO Michael Dell.

It has agreed to set aside $100 million (£65.5 million) to cover the costs that racked up after employees mislead auditors and manipulated results to meet performance targets.

After an internal investigation Dell found that its sales had been ‘overestimated’ by $359 million (£235 million) and its income by $92 million (£60 million) and now regulators have backed up this figure by saying that any settlement would include charges of fraud and negligence. Dell now appears to have reached a settlement agreement with the Securities and Exchange Commission (SEC)

Michael Dell, founder and CEO of Dell Computers also faces the same charges, but the company have said any investigation will result in a fine not in Dell being kicked off the board.

Dell was due to hold its annual shareholders’ meeting last week but it has suspended the event until 12th August to give share holders time to think about and consider the proposed settlements.

This is not the first time Dell have been left lacking in accountancy management, just last year a deal was struck to pay $40 million (£26 million) over ‘accounting issues’ this deal is still waiting for approval from the courts before it can be deemed completed.