Klein Erin

According to a review of regulatory filings during the month of February, 18 companies disclosed material weaknesses or significant deficiencies in internal controls, or provided updates on the status of their control-improvement processes. In January, 23 companies made similar disclosures. (See box at right for previous months’ data). Types Of Weaknesses Over one-third of the […]

According to a review of regulatory filings during the first month of 2004, 23 companies disclosed material weaknesses or significant deficiencies in internal controls. That number is nearly double the 14 similar disclosures made during the prior month of December 2003. Eleven companies made such disclosures in November 2003. (See box at right for prior […]

Every month, Compliance Week staffers scour SEC filings for disclosures of material weaknesses or “significant deficiencies” in internal controls. According to regulatory filings, 14 companies disclosed such weaknesses during the month of December, representing a 27 percent increase from the 11 firms who reported the same during November. The previous November survey is available in […]

As public company executives surely know by now, Sections 302 and 404 of SOX require public companies to establish, implement and evaluate their internal controls for purposes of financial statement reporting and operational integrity. Outside auditors must attest to management’s assessment. In doing so, both parties would be — in theory — demonstrating to shareholders […]