Greenbrier Reveals New Control Deficiency
Railcar maker has not identified any misstatements as auditor issues adverse opinion.
November 15, 2022
The Greenbrier Companies (GBX), a railroad freight car equipment manufacturer, identified a material weakness in its internal control over financial reporting (ICFR) related to its IT system configurations designed to ensure all changes are logged and approved. Though the company says it did not identify any misstatements, Greenbrier warned in its latest annual report:
“This control deficiency was the result of our risk assessment not identifying a control to ensure the completeness and accuracy of all system configuration changes subject to change management controls.”
Related: TRN, RAIL
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