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

Genworth Financial: Fewer Adjustments, But Controls Still Ineffective

As we discussed in our previous blog, the remediation of control deficiencies can be a lengthy and costly process. The case of Genworth Financials (NYSE: GNW) is no exception. Its most recent quarterly report, filed on Wednesday, April 29, states that its … Continue reading

Genworth Financial Cites Inadequate Controls

Reporting requirements may sometimes seem to be set in stone, but they do in fact change from time to time. Usually, when a regulator changes a requirement, it also imposes a deadline for the implementation of the change. The companies are … Continue reading

US Company Tax Issues On The Rise

Burger King grabbed headlines a while back when it announced it will be joining with the iconic Canadian chain Tim Hortons and moving its headquarters to the north. Burger King has long been a staple in the American tradition of … Continue reading