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This excerpt taken from the QSFT 10-K filed Dec 7, 2007. Internal Control over Financial Reporting for Revenue Our management identified the following material weakness in the Company’s internal control over financial reporting for revenue as of December 31, 2006: Our management identified control deficiencies that resulted in material adjustments to revenue and deferred revenue accounts for the periods from 2000 to 2006. Management has evaluated the control deficiencies that resulted in these adjustments and has concluded that these control deficiencies in the aggregate constitute a material weakness in the internal controls over financial reporting for revenue as of December 31, 2006. Management believes that the Company did not staff a sufficient number of suitably experienced personnel and did not design or implement adequate controls to ensure that revenue and deferred revenue accounts were properly accounted for and reported over the periods from December 2000 to December 2006. More specifically, the control deficiencies that management concluded in the aggregate constitute a material weakness in the design and operating effectiveness of the internal control over financial reporting for revenue can be categorized as follows:
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Table of ContentsThis excerpt taken from the QSFT 10-Q filed Dec 7, 2007. Internal Control over Financial Reporting for Revenue Our management identified the following material weakness in the Company’s internal control over financial reporting for revenue as of June 30, 2006: Our management identified control deficiencies that resulted in material adjustments to revenue and deferred revenue accounts for the periods from 2000 to 2006. Management has evaluated the control deficiencies that resulted in these adjustments and has concluded that these control deficiencies in the aggregate constitute a material weakness in the internal controls over financial reporting for revenue as of June 30, 2006. Management believes that the Company did not staff a sufficient number of suitably experienced personnel
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Table of Contentsand did not design or implement adequate controls to ensure that revenue and deferred revenue accounts were properly accounted for and reported over the periods from December 2000 to June 2006. More specifically, the control deficiencies that management concluded in the aggregate constitute a material weakness in the design and operating effectiveness of the internal control over financial reporting for revenue can be categorized as follows:
This excerpt taken from the QSFT 10-Q filed Dec 7, 2007. Internal Control over Financial Reporting for Revenue Our management identified the following material weakness in the Company’s internal control over financial reporting for revenue as of September 30, 2006: Our management identified control deficiencies that resulted in material adjustments to revenue and deferred revenue accounts for the periods from 2000 to 2006. Management has evaluated the control deficiencies that resulted in these adjustments and has determined that these control deficiencies in the aggregate constitute a material weakness in the internal controls over financial reporting for revenue as of September 30, 2006. Management believes that the Company did not staff a sufficient number of suitably experienced personnel and did not design or implement adequate controls to ensure that revenue and deferred revenue accounts were properly accounted for and reported over the periods from December 2000 through September 2006. More specifically, the control deficiencies that management concluded in the aggregate constitute a material weakness in the design and operating effectiveness of the internal control over financial reporting for revenue can be categorized as follows:
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