WorldCom also agreed to hire an outside consultant to review its internal accounting controls, and provide mandatory accounting and ethics training for accounting employees for at least three years.
32.
In addition, it released documents showing that in a conference call on July 13, 2001, accountants warned the audit committee members of " material weaknesses in internal accounting control ."
33.
Japan's financial system is weighed down not only by bad debt but its recently acquired international reputation for loose accounting controls, dubious judgment and just plain incompetence, he pointed out.
34.
According to the complaint, the company and its officers inflated its earnings through fictitious sales, paid kickbacks to brokers, failed to maintain internal accounting controls and engaged in insider trading.
35.
No monetary fines or penalties were imposed against Informix, a database software company based in Menlo Park, Calif . The SEC said Informix failed to devise and maintain sufficient internal accounting controls.
36.
_While the report said Fastow's proposal for yet another partnership, LJM2, was worth considering on its face, the host of accounting controls enacted to protect Enron's interests should have been a warning sign.
37.
BDO Seidman also released documents showing that in a July 13, 2001, conference call with the audit committee, its accountants warned the committee members of " material weaknesses in internal accounting control ."
38.
According to an SEC filing, the Honduran operations lost money in 1996 because of " substantial quality control problems and production inefficiencies, " limited funds and " inadequate product and accounting controls ."
39.
BDO Seidman released documents Thursday showing that in a July 13, 2001, conference call with the audit committee, its accountants warned the committee members of " material weaknesses in internal accounting control ."
40.
The policy provides a mechanism for employees to raise concerns that relate to violation of the Code of Conduct, Accounting, Internal Accounting Controls, Auditing Matters and applicable national and international laws including statutory / regulatory rules and regulations.
