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Sections Of Periodic Reports

Below is a list of the monthly internal control reports covered by Compliance Week since November 2003. The reports track disclosures of "material weaknesses" and in some cases "significant deficiencies" in companies' internal control over financial reporting.

Please note that some months include only a sampling of the internal control disclosures, and that month-to-month trend analysis is therefore not always possible.

Also, data in varying months was compiled by either 10K Wizard or Raisch Financial Information Services, and Compliance Week cannot warrant the accuracy or completeness of the information due to vagaries of language in the disclosures of public companies.

And finally, please note that Compliance Week changed its selection criteria in 2005, limiting its analysis to companies that comprise the Russell 3000 index. Please contact us at (888) 519-9200 or via email for more information.

2005

July 2005:

A sampling of internal control disclosures made during the month of July 2005. This month's list ran alongside an Aug. 2 feature titled, "How Companies Go From Deficiencies To Weaknesses."

June 2005:

A review of internal control disclosures made during the month of June 2005 shows that companies are describing with great detail the measures they've undertaken to remediate internal control weaknesses disclosed as per Section 404.

May 2005:

A review of internal control disclosures made during the month of May 2005 shows that companies are successfully remediating internal control weaknesses disclosed in prior months, while others are amending opinions from "effective" to "ineffective."

April 2005:

According to a review of internal control disclosures made during the month April 2005, 58 companies disclosed material weaknesses in their internal control over financial reporting. The type of weakness most commonly cited: lease accounting issues.

March 2005:

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, representing about 5 percent of the 10-Ks filed during the month.

February 2005:

According to a review of internal control disclosures made during the month February 2005, 18 companies disclosed material weaknesses in their internal control over financial reporting, and five companies reported deficiencies.

January 2005:

According to a review of internal control disclosures made during the month January 2005, several companies have begun disclosing that their internal control over financial reporting was not effective as of their fiscal year end.

2004

December 2004; Annual Roundup:

According to a review of regulatory filings, 56 companies disclosed material weaknesses or significant deficiencies in internal controls during the month of December 2004, bringing the year-to-date total to 582.

November 2004:

According to a review of regulatory filings, the number of companies disclosing material weaknesses or significant deficiencies in internal controls jumped significantly during the month of November 2004.

October 2004:

According to a review of regulatory filings, 63 companies disclosed material weaknesses or significant deficiencies in internal controls during the month of October. That's up from 40 during the prior month.

September 2004:

According to a review of regulatory filings, 40 companies disclosed material weaknesses or significant deficiencies in internal controls during the month of September, and dozens of others listed controls as "risk factors."

August 2004:

According to a review of regulatory filings during the month of August, 92 companies disclosed material weaknesses or significant deficiencies in internal controls, or provided material updates on the status of their control-improvement processes.

July 2004:

According to a review of regulatory filings during the month of July, 36 companies disclosed material weaknesses or significant deficiencies in internal controls, or provided material updates on the status of their control-improvement processes.

June 2004:

According to a review of regulatory filings during the month of June, 41 companies disclosed material weaknesses or significant deficiencies in internal controls, or provided updates on the status of their control-improvement processes.

May 2004:

According to a review of regulatory filings during the month of May, 51 companies disclosed material weaknesses or significant deficiencies in internal controls, or provided updates on the status of their control-improvement processes.

April 2004:

According to a review of regulatory filings during the month of April, 39 companies disclosed material weaknesses or significant deficiencies in internal controls, or provided updates on the status of their control-improvement processes.

March 2004:

According to a review of regulatory filings during the month of March, 28 companies disclosed material weaknesses or significant deficiencies in internal controls, or provided updates on the status of their control-improvement processes.

February 2004:

According to a review of regulatory filings during the month of February, 18 companies disclosed material weaknesses or significant deficiencies in internal controls, or provided updates on the status of their control-improvement processes.

January 2004:

According to a review of regulatory filings during the first month of 2004, 23 companies disclosed material weaknesses or significant deficiencies in internal controls.

2003

December 2003:

According to regulatory filings, 14 companies disclosed such weaknesses during the month of December, representing a 27 percent increase from the 11 firms who reported the same during November.

November 2003:

This month, Compliance Week begins reprinting disclosures of internal control weaknesses and deficiencies made during the prior period, as well as notices of improvements made to prior weakness disclosures.

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