In filing a 10-Q last week, video giant Blockbuster became one of only a handful of companies to date to tell the Securities and Exchange Commission about a change to internal control over financial reporting regarding an upgrade to financial systems.
Blockbuster informed the Commission that it had recently “implemented PeopleSoft Financial Modules, a new enterprise resource planning … system which will serve as its general ledger of record going forward.” The company said that implementation of the PeopleSoft system “materially impacted the Company’s internal control over financial reporting by providing more timely and accurate financial and accounting information, reducing manual processes and providing a flexible architecture to easily interface with other systems to reduce data entry.”
