State audit confirms repeated security weaknesses, gaps in documentation and oversight

The California State Auditor uncovered several issues during an investigation.This report from last year covered the state's ...
Houston Chronicle

Weakness in Financial Management Internal Controls

When your company doesn't have adequate controls in financial management, you don't know the true financial situation of the company and you may report incorrect amounts to authorities for tax and ...
Compliance Week

Study: Disclosing Control Weaknesses Does You Few Favors

Companies that disclose control problems ahead of restatements get no pat on the back or other indicators of gratitude from investors. On the contrary, they are more likely to face harsher ...
JD Supra

SEC Takes Seriously Both Internal Control Weakness Disclosure and Remediation

On January 29, 2019, the SEC announced settled enforcement actions against four companies for failures to maintain internal control over financial reporting (“ICFR”) as required by Section 13(b)(2)(B) ...
Yahoo Finance

Super Micro’s internal control weaknesses linger

The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for ...
JD Supra

SEC Says Disclosing Material Internal Control Weaknesses is not a Substitute for Maintaining Internal Controls

The SEC announced settled charges against four public companies for failing to maintain internal control over financial reporting, or ICFR, for seven to 10 consecutive annual reporting periods. Two of ...
Nasdaq

Nidec Announces Material Weakness About Nidec’s Internal Control Over Its Financial Reporting

It became clear that, at Nidec Drive Technology, a consolidated subsidiary of the Company, the wrong data was identified for part of the adjustment, such as sales accompanied by transactions between ...
Compliance Week

Audit tensions often precede control weaknesses, study says

If tensions are rising between a given company and its external auditor, there’s a greater chance the company will be reporting internal control weaknesses. That’s one of the findings of a recent ...
ZDNet

328 weaknesses found by WA Auditor-General in 50 local government systems

The Auditor-General of Western Australia on Wednesday tabled a report into the computer systems used at 50 local government entities, revealing 328 control weakness across the group. It was ...
Forbes

What Happens To Audit Partners Who Issue Negative Internal Control Opinions?

Forbes contributors publish independent expert analyses and insights. I am the Jenkins Professor of Accounting at NC State University. Audit partners who issue adverse internal control opinions are ...
Houston Chronicle

An Audit Firm's Responsibility About Weaknesses in Internal Control

A small business's internal control system can only be as strong as the rules, policies and procedures put in place to detect fraud, waste or abuse and protect its financial and physical assets.