Look up any public company’s material weaknesses, free
The Ctrl Worx Watch List shows which public companies that file with the SEC have reported a material weakness, or concluded that internal control over financial reporting isn’t effective, in their own SEC filings, with no annual report since saying it is fixed, and how long each has been on the Clock. Looking up a company is free and needs no sign-up.
What the Watch List covers
- Public companies that file Forms 10-K and 10-Q with the SEC, of any size, from micro-caps to the largest companies.
- 10-K and 10-Q filings since January 1, 2021, found by EDGAR full-text search, amendments included.
- We search SEC EDGAR every 15 minutes and usually check new entries within one business day.
- Each company page shows management’s conclusion, the weakness in the company’s own words, the auditor and every filing behind it, linked to SEC EDGAR.
- Free to read. No sign-up.
What’s a material weakness?
It’s a gap in a company’s internal control over financial reporting, serious enough that there’s a reasonable possibility a material error in its annual or interim financial statements won’t be prevented or caught in time (SEC Regulation S-X, Rule 1-02(a)(4)). Public companies have to say so in their annual reports, and many repeat it in their quarterly reports.
Three ways to use it
- Look up a company. Search the Watch List by name or ticker. Every company on it has its own page, with the sentence from its own filing.
- Run Controls Radar. Type a ticker into Controls Radar and see that company’s internal control record from its own filings in seconds.
- Get Watch List Weekly. Watch List Weekly comes out every Monday at 7:00 AM ET, who joined, who reported a fix and who has been on the Clock longest. You can sign up now, below. You can also follow up to 5 companies free and get an email when one of them files a 10-K or 10-Q that reports a material weakness or says its controls are effective.
How to read a company page
- Watch List status. On the Clock while the company is still filing. Stale filing, Stopped filing or Now files as a foreign issuer when it has stopped filing the usual reports. “10-Q reports fixed, awaiting annual report” when a later 10-Q says the weakness is fixed and no annual report has confirmed it yet.
- On the Clock since. How long the company has been on the Clock, counted from the period end the company itself first reported it for.
- What the latest filing says. A quote from its latest filing that reports the weakness, linked to SEC EDGAR.
- Checked against SEC EDGAR. The date the page was last checked.
- Company response. Space for the company’s own statement, posted unedited and dated.
Fair to every company
- The same rule applies to every company: it comes off when its own annual report says the weakness is fixed.
- Every company can have a response posted on its page.
- We review every reported error within two business days, and any change to a company’s record is posted in the corrections log.
- No company on the list can sponsor it, and Ctrl Worx takes no new paid advisory work from a company while it’s on the Watch List or for 12 months after. See the independence policy.
Is your company on the list?
It comes off when its own annual report says the weakness is fixed. To have a statement or a link to your remediation update posted on your page, email russell@ctrlworx.com from your company’s own domain. If you think an entry is wrong, send the filing. We review every reported error within two business days, and any change to a company’s record is posted in the corrections log.
Good to know
A material weakness is a finding about a company’s internal controls. It doesn’t mean its financial statements are wrong, and being on the list isn’t a claim of wrongdoing. The Watch List is built from public SEC filings. It isn’t investment or legal advice, and Ctrl Worx isn’t affiliated with the SEC or any government body. Read how the Watch List works.