Los Angeles-based bank holding company Broadway Financial Corp. disclosed in a public filing weaknesses discovered in its internal control over financial reporting (ICFR) because of training shortfalls.
In its annual report, filed Monday, the firm said it identified material ICFR weaknesses that could affect its ability to “record, process, and report financial information accurately; impair our ability to prepare financial statements; negatively affect investor confidence; and cause reputational harm.”
