- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Tammy Whitehouse2019-07-24T18:06:00
Adverse auditor attestations on the state of internal controls at public companies made a bit of a comeback in 2018 after a brief retreat, according to a coming report from Audit Analytics.
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Following an investigation spurred by a whistleblower letter, Mattel announced it has uncovered material weaknesses in its internal controls over financial reporting and is now working to remediate the issues.
Amid persistent cost and compliance challenges with internal controls, the pace of migration toward new accounting technologies appears to be picking up.
Nearly one-fourth of filings with the SEC in the fourth quarter contained admissions of material weaknesses in internal control over financial reporting.
Chinese authorities banned PwC’s Chinese unit from performing audits in the country for six months, labeling the subsidiary’s flawed audit work as complicit in the failure of giant property developer Evergrande.
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after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.
Software company Autodesk said it won’t restate several years of financial statements following an audit committee investigation into potential accounting misconduct.
