Mattel's finance team and outside auditor effectively buried an accounting error that affected its financial results in the latter half of 2017, according to a published report.
Wednesday after interviewing Brett Whitaker, who was Mattel’s director of tax reporting at the time the error was discovered.
The company last week also said its investigation of the matter showed that the error was not provided to then-Chief Executive Margaret Georgiadis or Mattel’s audit committee at the time, and that Mattel had certain “weaknesses in its internal control over financial reporting” that it’s now bolstering. It said it also “did not find that management engaged in fraud.”after a six-month transition period, Mattel said last week. Euteneuer said he had no comment beyond the company’s statement.
PwC said in a statement Wednesday that “integrity is at the heart of who we are and how we operate” and that it took “immediate action” to investigate and address the problem after learning of the whistleblower’s complaint.
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