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Going from memory here, from what I posted back about 300 posts, I'll try to answer.

Halliburton is not required to inform the SEC that they changed their accounting procedures. They are required to use acceptable accounting procedures as set forth in the SEC guidelines. Any changes must be reported to their shareholders.

Halliburton closed their acquisition of Dresser on 9/29/98. They filed their Q3 report on 11/16/98, for the quarter ending 9/30/98. Due to their acquisition of Dresser, they found it in the company's, (and therefore the shareholders), best interest to change their method of accounting to more accurately reflect their true expenses and income. Also, to put their accounting practices in line with 10 of the 15 other companies in their same line of business.

Halliburton reported this change in their 1998 annual report. Their 1998 annual financial statement was reflective of this change. The fact that they made this change was printed in a footnote on their financial statement in their annual report which was provided, (as required by law), to all of their shareholders.

This annual report was dated 3/23/99. SEC rules require quarterly reports 45 calendar days after the quarter end and annual reports 90 days after the end of the fiscal year.

There was a fair amount of work that needed to be done and accounted for and adjustments made to reflect the Dresser acquisition. Dresser's fiscal year had ended 10/31 prior to the acquisition, and they had to account for the difference.

The comments that the disclosure was not made until a year after the change is still up for debate. The changes were made to their procedure after the Dresser acquisition, therefore, disclosed six months later. It would have been too late to include the changes in the Q3 report as the quarter closed the day after the acquisition. Therefore, they disclosed it in the first published financial statement after.

The reason it's up for debate is that it affected their entire 1998 financials. Therefore, the claim that they didn't disclose the info for over a year.