According to a review of internal control disclosures made during the month March 2005, 116 companies disclosed material weaknesses in their internal control over financial reporting. As usual, we’re making the complete list—including excerpts and the original filings—available to subscribers in the box at right.
The number of weakness disclosures was up significantly from the 23 that were made in February 2005; however, the increase was largely due to the high volume of companies filing their annual reports in March. In fact, while some of the weakness disclosures were made on Form 8-K, most were made in 10-Ks; approximately 5 percent of the 1,852 10-Ks reviewed by Compliance Week in March included a weakness disclosure.
