Trusted Professional

SEC Charges Four Companies for Dragging Feet on Fixing Internal Control Deficiencies

GettyImages-917034454 The Securities and Exchange Commission announced

“Companies cannot hide behind disclosures as a way to meet their ICFR [internal control over financial reporting] obligations," said Melissa Hodgman, an Associate Director in the SEC’s Enforcement Division. "Disclosure of material weaknesses is not enough without meaningful remediation. We are committed to holding corporations accountable for failing to timely remediate material weaknesses."