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What happens if the external auditors find a material weakness in our companys internal controls?

April 26, 2017auditors COMPANY controls external happens Internal material weakness

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What happens if the external auditors find a material weakness in our companys internal controls?

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Material weaknesses in internal controls over financial reporting must be reported in your 10-K report as part of your SOX Section 404 management assessment. Additionally, plans for remediation should be documented and carried out.