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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-07-11T14:58:00
Home security company ADT said it will restate several of its recent financial statements after discovering errors in its calculation of goodwill impairment losses at its solar reporting unit.
Affected financial statements include the company’s quarterly reports filed with the Securities and Exchange Commission for the third quarter of 2022 and first quarter of 2023 and its 2022 annual report. ADT disclosed the issues in a filing Monday, saying it identified the errors while preparing its financials for the second quarter of 2023.
As a result of the errors, ADT management concluded the company’s internal control over financial reporting was not effective as of Dec. 31, 2022, and its disclosure controls and procedures were not effective at the reasonable assurance level as early as Sept. 30, 2022.
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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
2024-03-08T16:09:00Z By Kyle Brasseur
Chemours said an internal review into the actions of senior managers alleged to have engaged in accounting misconduct uncovered violations of the chemicals company’s code of ethics regarding the promotion of full, fair, accurate, timely, and understandable disclosure.
2023-08-17T19:34:00Z By Kyle Brasseur
The Lovesac Company disclosed it expects to restate certain of its 2023 financial statements after an internal investigation uncovered accounting errors related to its recording of last mile freight expenses.
2023-06-13T21:24:00Z By Adrianne Appel
A lack of oversight of employees handling vendor software is one of several failings at cloud computing company Nutanix that led to misuse, $11 million in estimated costs, and two pending lawsuits.
2024-06-12T01:46:00Z By Kyle Brasseur
Erica Williams was reappointed to a second term as chair of the Public Company Accounting Oversight Board after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.
2024-06-03T17:35:00Z By Kyle Brasseur
Software company Autodesk said it won’t restate several years of financial statements following an audit committee investigation into potential accounting misconduct.
2024-05-24T16:27:00Z By Jeff Dale
Los Angeles-based bank holding company Broadway Financial Corp. disclosed in a public filing weaknesses discovered in its internal control over financial reporting because of training shortfalls.
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