By Kyle Brasseur2023-07-11T14:58:00
Home security company ADT said it will restate several of its recent financial statements after discovering errors in its calculation of goodwill impairment losses at its solar reporting unit.
Affected financial statements include the company’s quarterly reports filed with the Securities and Exchange Commission for the third quarter of 2022 and first quarter of 2023 and its 2022 annual report. ADT disclosed the issues in a filing Monday, saying it identified the errors while preparing its financials for the second quarter of 2023.
As a result of the errors, ADT management concluded the company’s internal control over financial reporting was not effective as of Dec. 31, 2022, and its disclosure controls and procedures were not effective at the reasonable assurance level as early as Sept. 30, 2022.
2024-03-08T16:09:00Z By Kyle Brasseur
Chemours said an internal review into the actions of senior managers alleged to have engaged in accounting misconduct uncovered violations of the chemicals company’s code of ethics regarding the promotion of full, fair, accurate, timely, and understandable disclosure.
2023-08-17T19:34:00Z By Kyle Brasseur
The Lovesac Company disclosed it expects to restate certain of its 2023 financial statements after an internal investigation uncovered accounting errors related to its recording of last mile freight expenses.
2023-06-13T21:24:00Z By Adrianne Appel
A lack of oversight of employees handling vendor software is one of several failings at cloud computing company Nutanix that led to misuse, $11 million in estimated costs, and two pending lawsuits.
2025-10-15T19:16:00Z By Ruth Prickett
Auditors are supposed to keep businesses honest, but how much regulation is the optimum for the auditors – and how onerous and punitive should the enforcement regime be? A new consultation by the U.K. regulator, the Financial Reporting Council, opened on Oct. 1 and has put the vexed question of ...
2025-10-07T20:32:00Z By Jaclyn Jaeger
Emerging technologies, like artificial intelligence (AI) and advanced data analytics, can improve audit quality in significant ways. As the regulatory overseer of public-company audits, the Public Company Accounting Oversight Board (PCAOB) has a critical role to play by ensuring that its audit standards evolve as the audit profession evolves.
2025-07-21T14:13:00Z By Aaron Nicodemus
Continuing a Trump administration practice of firing independent regulators, the head of the Public Accounting Oversight Board has been sent packing.
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