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XIDE » Topics » Changes in Internal Control Over Financial Reporting

This excerpt taken from the XIDE 10-K filed Jun 4, 2009.
Changes in Internal Control Over Financial Reporting
 
There have not been any changes in the Company’s internal control over financial reporting during the fiscal quarter ended March 31, 2009 that have materially affected or are reasonably likely to materially affect the Company’s internal control over financial reporting.
 
Item 9B.   Other Information
 
None
 
This excerpt taken from the XIDE 10-K filed Jun 9, 2008.
Changes in Internal Control Over Financial Reporting
 
There have not been any changes in the Company’s internal control over financial reporting during the fiscal year ended March 31, 2008 that have materially affected or are reasonably likely to materially affect the Company’s internal control over financial reporting.
 
Item 9B.   Other Information
 
None
 
This excerpt taken from the XIDE 10-K filed Jun 11, 2007.
Changes in Internal Control Over Financial Reporting
 
There have been no changes in the Company’s internal control over financial reporting during the quarter ended March 31, 2007 that have materially affected or are reasonably likely to materially affect the Company’s internal control over financial reporting.
 
Item 9B.   Other Information
 
None


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Table of Contents

This excerpt taken from the XIDE 10-K filed Jun 29, 2005.

Changes in Internal Control Over Financial Reporting

 

There have been no changes in the Company’s internal control over financial reporting during the quarter ended March 31, 2005 that have materially affected or are reasonably likely to materially affect our internal control over financial reporting. Our management has discussed the material weaknesses described above and other deficiencies with our audit committee. In an effort to remediate the identified material weaknesses and other deficiencies, we continue to implement a number of changes to our internal control over financial reporting including the following:

 

  •   We are enhancing established policies and procedures for accounting review of month-end close, account reconciliation processes, journal entries, write-offs, restructuring related entries, impairment reviews and tax related entries;

 

  •   Taken steps to reduce the complexity of our consolidation processes, including push-down of responsibility for current consolidation activities to the appropriate levels in the organization.

 

Additionally, in response to the material weaknesses identified, we intend to implement additional remedial measures, including, but not limited to the following:

 

  •   Improving our documentation and training related to policies and procedures for the controls related to our significant accounts and processes;

 

  •   Hiring additional accounting personnel to focus on our ongoing remediation initiatives and compliance efforts;

 

  •   Engaging expert resources to assist with worldwide tax planning and compliance;

 

  •   Re-allocating and/or relocating duties of finance personnel to enhance review and monitoring procedures.

 

While the Company believes that the remedial actions will result in correcting the material weaknesses in our internal control over financial reporting, the exact timing of when the conditions will be corrected is dependent upon future events, which may or may not occur.

 

EXCERPTS ON THIS PAGE:

10-K
Jun 4, 2009
10-K
Jun 9, 2008
10-K
Jun 11, 2007
10-K
Jun 29, 2005

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