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Sarbanes-Oxley News & Developments
Terex Discloses SEC InvestigationThe manufacturer had previously discovered accounting errors while conducting its Section 404 review.
> > In announcing the restatement, Terex noted that the accounting errors stemmed mainly from how it booked and reconciled certain intercompany imbalances and its failure to eliminate certain accounts during consolidation. As we reported in January, Terex discovered the errors while conducting its review of its internal controls over financial reporting to comply with Section 404 of Sarbanes-Oxley. The company has already added a new financial reporting system and revised its internal controls.
Source: CFO
Published:2005-09-01
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