SEC Investigates Medifast, $200,000 Penalty & Cease-and-Desist Order

Posted by Juliette Gibsonon Tue, Oct 01, 2013 @ 09:41 AM

This is a great article looking at the outcome of a recent SEC investigation into Medifast's financial reporting from 2006 through 2009.  Medifast disclosed, without admitting or denying the SEC's findings, that under the terms of the settlement it has consented to a Cease-and-Desist Order and agreed to pay a $200,000 civil penalty.

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Tags: Internal Controls, audit, 10k, White Collar Fraud, disclosure, SEC, SEC fines, audit deficiency, Internal Control Deficiency

9 Ways to Spot Potential Fraud on your Health Care Bill

Posted by Teresa Bockwoldton Tue, Apr 03, 2012 @ 11:07 AM

9 Ways to Spot Potential Fraud on your Health Care Bill

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Tags: Internal Controls, Sarbanes-Oxley Articles & Information, internal control, Sarbanes-Oxley, Internal Control Education, internal control tips, fraud, Internal Control Deficiency

Free Webinar on Internal Controls with 1 Hour CPE TODAY AT NOON

Posted by Teresa Bockwoldton Wed, Mar 14, 2012 @ 10:04 AM

Free Webinar on Internal Controls with 1 Hour CPE TODAY, 3/14/2012 AT NOON.

 

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Tags: 404 audit, internal control, Internal Control Education, internal control tips, Internal Control Deficiency

How to Test Internal Controls in 5 Easy Steps

Posted by Teresa Bockwoldton Tue, Mar 13, 2012 @ 07:02 PM
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Tags: Internal Controls, Controls Testing, Internal Control Education, internal control tips, Internal Control Deficiency

Internal Control Deficiency Measurement in 5 Steps

Posted by Teresa Bockwoldton Wed, Apr 13, 2011 @ 08:39 AM

An internal control deficiency can be caused by a number of issues but it is primarily defined as an error discovered during internal controls testing (e.g., a payment was coded to utilities when it should have been coded to inventory) or during a review of the internal control evidence (e.g., the internal or external auditors discover the coding mistake rather than management finding it as part of their closing activities).  An internal control deficiency may also occur simply from someone forgetting to execute one of their internal controls entirely.

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Tags: Internal Controls, Compliance tools, risk assessment, audit, SOX, 404 audit, best-practice, Controls Testing, 10k, Product Information, Sarbanes-Oxley Training, compliance, risk management, Sarbanes-Oxley, audit deficiency, Internal Control Deficiency