NEW YORK (CNN/Money) - Tyco International Ltd., trying to move beyond a scandal-plagued past, reported a second-quarter loss Wednesday because the company took charges after discovering accounting problems. The company said problems identified by its audits will lead to employee firings.

Tyco said after the closing bell that it took nearly $1 billion in charges arising from the conglomerate's internal audits, which Ed Breen, Tyco's CEO of nine months, said are coming to a close.

"We now believe that we have identified all, or nearly all, of the remaining (accounting) issues," Breen said during a conference call.

Bermuda-based Tyco (TYC: up $0.23 to $15.60, Research, Estimates) said the charges resulted from internal audits and reviews and two accounting changes involving its ADT unit, particularly regarding the length of time over which it writes off its investment in security-alarm systems installed in customers' premises.

As a result, Tyco reported a loss of $468 million, or 23 cents a share, from continuing operations in the fiscal second quarter that ended March 31. That compared with a year-earlier net loss of $6.37 billion, or $3.20 a share, after taking a charge from the sale of CIT Group Inc.

Breen, formerly the chief operating officer at Motorola, came to Tyco last July. He replaced Dennis Kozlowski, who was indicted last year on charges he looted the company of millions of dollars.

"We are committed to changing the culture of the company to be more conservative," said Breen, whose company makes everything from fire-detection systems and circuit boards to disposable medical supplies and undersea cables."where we can not change the culture we will change the people." The CEO made no mention of who would be replaced or how many people are involved.

Tyco's second quarter revenue rose 4 percent to $9.0 billion.

Tyco said about 52 percent of the charges come from new estimates of reserves, accruals and valuations of investments. The remainder is attributable to account reconciliation discrepancies, inappropriate capitalization of expenses and other accounting adjustments.

The company said a Securities and Exchange Commission inquiry into the company is not finished, but that a forensic audit of the company's books is done.

Tyco (TYC: Research, Estimates) shares rose 16 cents to $15.75 in afterhours trading following a 23 cent gain during the regular session.  

-- Reuters contributed to the story