Bullock County Audit reveals material weaknesses

A recent audit done by the State Board of Examiners revealed that the Bullock County Commission, Alabama had a number of material weaknesses in their financial reporting. The audit covered the 2008-2009 fiscal years. The key issues uncovered were relating to the funds...

The bug in the accounting at Computer Sciences

In their 10Q filing, Computer Sciences Corp. disclosed that it had found some accounting irregularities in their Nordic business unit. The issue amounts to a “material weakness” in internal controls over financial reporting. The company took a hit of $30...