Tupperware to delay annual report amid ICFR weaknesses
By 
Adrianne Appel2023-03-17T18:42:00
Consumer products company Tupperware Brands Corp. disclosed it uncovered material weaknesses in its internal control over financial reporting (ICFR) as part of an announcement its 2022 annual report would be delayed.
Tupperware is seeking an extension to file its fiscal year 2022 Form 10-K with the Securities and Exchange Commission while it reviews its accounting, the company disclosed in a filing with the agency Thursday.
The company said it expects it overstated its beginning retained earnings balance for FY2020 by $23 million to $28 million, primarily because of income tax and lease accounting lapses in years prior to 2020.
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