Chief financial officer Peter Currie told analysts in a conference call that the restatement involves calculation errors related to the recognition of revenue and pension and post-retirement plans.

The errors cover 2004, 2005 and the first nine months of 2006, as well as “third-party actuarial calculation errors which originated prior to 2000.”

Currie said the company discovered the problems while looking over past documents related to North American pension plan changes.

Yeah you’re right. They must be getting the hang of this stuff. Who’s their actuary?

Reading the Nortel press release, er CBC article, suggests actuaries, rather than accountants, were to blame though.