This article originally appeared on August 25th, 2015 in Compliance Week

More Questions, and Evidence, on Undisclosed Control Weaknesses

hile an intense focus on internal controls in recent years is leading to improvement in financial reporting, regulators are growing more convinced that an underbelly of weaknesses still lurks in corporate accounts that isn’t being disclosed to investors.

Franzel-jeanette-0315FranzelIn a recent speech to accounting academics, Jeanette Franzel, a member of the Public Company Accounting Oversight Board, presented a bevy of statistics that raise deep questions about the true state of internal controls over financial reporting among public companies. Why do so many companies with restatements issue clean reports on internal controls before restating financials? Does that mean material weaknesses in internal controls are not being identified? Or worse, are they being identified, but not reported?

Franzel said this “noise” in the… To get the full story, subscribe now.

About MorganFranklin Consulting

MorganFranklin Consulting ( is a global management and technology consulting firm that works with leading businesses and government.  The firm helps organizations solve their most pressing challenges and address critical finance, technology, and business objectives. MorganFranklin is headquartered in the Washington D.C. area with regional offices in Atlanta and San Francisco, and supports clients across the globe.

MorganFranklin Consulting is the brand name referring to the global organization of MorganFranklin, Inc. and its subsidiary MorganFranklin Consulting, LLC.