FairPoint Communications 2011 Annual Report Download - page 127
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payroll, human resource administration, tax and general ledger accounting.
(d) Remediation of Material Weaknesses in Internal Control Over Financial Reporting
During the year ended December 31, 2011, our management completed corrective actions to remediate certain of the material weaknesses identified in our
2010 Annual Report on Form 10-K and our quarterly reports on Form 10-Q for the quarters ending March 31, 2011, June 30, 2011 and September 30, 2011.
Specifically, the following actions were taken with respect to each of the following identified material weaknesses:
Specifically, our change management processes were not consistently followed to ensure
all changes were appropriately authorized. In addition, access to our information systems was not appropriately restricted.
To resolve this issue, the following improvements were implemented:
• Implemented formal change management processes governing approval, testing and implementation of system and application changes;
• Restricted access to the privileged system account for our retail billing system;
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