Statistics on # of material weaknesses by company 840
-
We’re in the process of trying to measure ourselves against other companies by comparing the total number of material weakness we highlighted with other companies in our industry. (high-tech/tele-com).
Any help on how to get access to this data would certainly be appreciated.
-
Did you check the SEC web?
I think compliance week might have something as well…
complianceweek.com
-
From Compliance Week (complianceweek.com/, highly recommended subscription):
The most common type of weaknesses: About 50 percent of the disclosures are related to financial systems and procedures.
The second most common type of weaknesses: About 30 percent of the disclosures are related to personnel issues, like poor segregation of duties, inadequate staffing, training and supervision problems
Other common types of weaknesses: Documentation issues, and IT systems and controls (especially security and access controls)
Very few companies have disclosed backup and recovery issues.