The Traderszone Network

Published in TZ Latest News 10 September, 2015 by The TZ Newswire Staff

Wal-Mart finds ‘material weakness’ in controls over accounting of leases

Wal-Mart, which had flagged the accounting issue when reporting quarterly earnings last month, said management believed related adjustments to its financial statements would be immaterial for all periods. The company said it was revising its existing controls and procedures to properly apply sale-leaseback accounting, and the remediation is expected to be completed in the year ending January.