Procter & Gamble Co. late Friday insisted its accounting practices are clean and are not affecting its stock price, which was dragged down by the market this week.

        Responding to vague market rumors that regulators were scrutinizing P&G's accounting, chief financial officer Clayton Daley said they had “absolutely no foundation.”

Daley

        “We have not been contacted by any authorities whatsoever regarding our accounting practices,” Mr. Daley said in a statement. “In fact, we have been recognized for the clarity of our financial statement by individuals in both the investment and academic communities.”

        P&G's stock price fell $2.32 per share Friday to $83.63. It capped a bad week in which the price fell nearly $7 per share, or about 7.3 percent.

        The company has issued no negative financial news during the week. And the market downturn caught its competitors as well, as shares in consumer-products companies such as Clorox Co., Colgate-Palmolive Co., Unilever and Kimberly-Clark Corp. also lost value.

        P&G, the maker of big brands Crest, Tide and Pampers, has long been subject to stock-market rumors.

        Chairman and chief executive A.G. Lafley has said he wants the company's financial statements to be transparent to investors. To this point, P&G has largely avoided the fallout from such accounting scandals as have engulfed Enron Corp. and WorldCom Inc.

        A P&G spokesman declined to comment further.

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