Usana’s most recent 10-Q filing with the Securities and Exchange Commission was NOT reviewed by an independent auditor. From NASDAQ’s FAQ: What are the repercussions if my company’s auditors did not review the quarterly financial statements as required under SAS […]
…or so Usana Health Sciences would have us believe. But don’t listen to them. No, no. Listen to a third party. An unbiased person who is quite knowledgeable about the reasons why auditors quit. Or not. It took me a […]
From Usana’s 8-K: In connection with GT’s review of the Company’s unaudited financial statements that were included in the Company’s Quarterly Report on Form 10-Q for quarter ended March 31, 2007, the Audit Committee and GT disagreed as to the […]
Usana Health Sciences announced today that its auditors, Grant Thornton LLP, resigned the engagement. The press release said: During USANA’s fiscal years ended December 30, 2006 and December 31, 2005, and the interim periods since December 30, 2006, there were […]
Quite a lot happened this past week at Overstock.com. Is the house of cards finally falling down? Some think so. Gary Weiss even wrote a blog post entitled “Will the Last Overstock.com Director Please Turn Out the Lights.” And Sam […]
A proposed amendment to make the internal controls portion of Sarbanes-Oxley optional for smaller corporations was defeated in the U.S. Senate this week. Specifically, the change would have allowed companies with market value less than $700 million to opt out […]
Well that makes two of us! In a recent article on CFO.com, retired Congressman Michael Oxley expresses his displeasure with the Sarbanes-Oxley legislation, and blames it on the Public Company Accounting Oversight Board (PCAOB). Section 404 of the Sarbanes-Oxley Act […]
Following the indictment of an owner of multiple Jackson-Hewitt franchise locations, Jackson-Hewitt has hired former IRS Commissioner Fred Goldberg to conduct an internal review. Goldbert is a partner at law firm Skadden, Arps, Slate, Meagher & Flom LLP in Washington […]
The Securities and Exchange Commission voted in favor of four staff recommendations to work with the Public Company Accounting Oversight Board (PCAOB) to help change Sarbanes-Oxley. Currently, Sarbanes-Oxley requires companies to monitor and test internal controls over financial reporting. (Notice […]
On Tuesday, the U.S. Justice Department filed civil injunctions against five Jackson Hewitt franchises, including the corporations that operate the franchises and 24 people who work at those franchises. The corporations in question operate over 125 Hackson Hewitt locations in […]
