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Adverse internal control findings tapered off in 2016

Tammy Whitehouse | November 6, 2017

For the first time since the beginning of a steady rise in adverse internal control findings in 2012, a slightly smaller number of auditors issued such opinions in 2016, according to a fresh analysis by Audit Analytics.

Across all public companies in 2016, auditors issued 214 adverse opinions on internal control over financial reporting, which suggests a heightened risk to those particular entities’ ability to produce financial statements that are free of material misstatement. That number is down from 236 in both 2015 and 2014, but still higher than the 2013 total of 189.

Adverse auditor attestations reached a high of 492 in 2005, which was only a few years into the... To get the full story, subscribe now.