Mattel's finance team and outside auditor effectively buried an accounting error that affected its financial results in the latter half of 2017, according to a published report.
Wednesday after interviewing Brett Whitaker, who was Mattel’s director of tax reporting at the time the error was discovered.
The company last week also said its investigation of the matter showed that the error was not provided to then-Chief Executive Margaret Georgiadis or Mattel’s audit committee at the time, and that Mattel had certain “weaknesses in its internal control over financial reporting” that it’s now bolstering. It said it also “did not find that management engaged in fraud.”after a six-month transition period, Mattel said last week. Euteneuer said he had no comment beyond the company’s statement.
PwC said in a statement Wednesday that “integrity is at the heart of who we are and how we operate” and that it took “immediate action” to investigate and address the problem after learning of the whistleblower’s complaint.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Mattel, PricewaterhouseCoopers reportedly buried accounting issues, former executive claimsMattel stock slumped Wednesday after a report surfaced purporting that the toy company and its auditor PricewaterhouseCoopers obscured an accounting error.
Baca lebih lajut »
Mattel, PwC Obscured Accounting Issues, Former Executive SaysMattel’s former director of tax reporting says the toy maker and its auditor effectively buried accounting issues related to the value of the Thomas & Friends animated children’s show.
Baca lebih lajut »
Mattel, PwC Obscured Accounting Issues, Former Executive SaysMattel’s former director of tax reporting says the toy maker and its auditor effectively buried accounting issues related to the value of the Thomas & Friends animated children’s show.
Baca lebih lajut »
Mattel, PricewaterhouseCoopers reportedly buried accounting issues, former executive claimsMattel stock slumped Wednesday after a report surfaced purporting that the toy company and its auditor PricewaterhouseCoopers obscured an accounting error.
Baca lebih lajut »
Mea culpa — Twilio CEO assures Jim Cramer 'simple math error' will never happen again'We have instituted additional processes and controls to make sure such an error cannot happen again,' Twilio CEO Jeff Lawson says in a 'Mad Money' interview.
Baca lebih lajut »
Under Armour shares crater on accounting probe, cut to 2019 revenue outlookUnder Armour is undergoing a federal investigation of its accounting practices. “I’m calling it illegal, I’m calling it unethical, I’m calling it disgraceful,” MadMoneyOnCNBC's JimCramer says about the company not disclosing the investigation earlier.
Baca lebih lajut »