Cardinal To Add Chief Compliance Officer In Response To Audit
This article was originally published in The Pink Sheet Daily
Internal audit leads Cardinal to make a number of personnel and accounting changes, including appointment of a chief accounting officer separate from the controller. Delayed annual report filed with SEC discusses audit committee's findings.
You may also be interested in...
The wholesaler delays fiscal 2004 10-K filing after an audit committee concludes the last three years of reports will need to be restated. Cardinal predicts 10%-15% earnings decline in first half of fiscal 2005.
Board member J. Michael Losh will serve as interim CFO, effective immediately. Former CFO Richard Miller will help in the transition, Cardinal says, but will not be involved in preparing financial statements or SEC filings.
The New York U.S. Attorney has intervened in the ongoing investigations into Cardinal's accounting practices originally initiated by the Securities & Exchange Commission