Estimated reading time: 0 minutes, 46 seconds


 Bill, formerly known as, is working to fix weaknesses in internal controls found by auditor Ernst & Young in a routine audit review in April. The payments company said there is a material weakness but that it does not impact any of the company’s financial statements.

E&Y concluded there was insufficient documentation and evidence retained for Sarbanes-Oxley compliance purposes. As a results, Bill found “it had a material weakness in internal control over financial reporting related to information systems and applications within the quote-to-cash process as of June 30, 2022.” The company will file an amendment to its 10-K form for 2022 to revise its management report about this area. It will also amend 10-Q’s for last year’s third and fourth quarter. Bill said because of the material weaknesses, “the Company’s disclosure controls and procedures were not effective at a reasonable assurance level as of June 30, 2022, September 30, 2022, December 31, 2022, and March 31, 2023.”


Read 250 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.