Literature Review: “An Analysis and Taxonomy of Disclosure Controls and Procedures Effectiveness”

In a recent post, we discussed trends in Sarbanes-Oxley Act Section 302 Disclosure Controls and Procedures (“DC&P”, or “SOX 302”) filings, and highlighted some reasons why disclosure controls may be of interest to investors and stakeholders. In this post, we look at … Continue reading

Hain Delays Filing: What to Expect

Hain Celestial Group (NASDAQ: HAIN) announced on Monday, August 15 that it would delay the release of its fourth quarter and fiscal year 2016 financial results. The reason? The company was investigating certain revenue arrangements with distributors. During the fourth quarter, the … Continue reading

Non-GAAP Metrics in SAB 99 Materiality Analyses

The pros and cons of non-GAAP metrics have been discussed in more than a few recent articles. Proponents of non-GAAP frequently claim that GAAP contains many ambiguities and loopholes, and that non-GAAP metrics can be more current and relevant. Opponents sometimes … Continue reading

Walmart Reports Material Weakness

In a 10-Q filed yesterday, September 9th, Walmart disclosed a significant deficiency that rose to the level of material weakness in its SOX Section 302 Disclosure Controls and Procedures assessment. The deficiency related to the company’s application of lease accounting. According to … Continue reading