LeapFrog 2013 Annual Report Download - page 82
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During the fourth quarter of 2013, management made the following changes to its internal control over
financial reporting to remediate the material weakness related to journal entries:
• Management has removed the ability to create and post journal entries for certain finance personnel
and implemented a systematic journal entry review workflow covering all journal entries processed
by all users of the system.
• Management has reviewed a complete listing of all journal entries created and posted by the same
user to validate they are authorized and appropriate.
Management tested the newly implemented controls and procedures, found them to be effective and have
concluded as of December 31, 2013 this material weakness has been remediated.
With regard to our financial statements for the year ended December 31, 2013, management performed a
review of all journal entries posted by these specific finance individuals and confirmed that all posted journal
entries were authorized and appropriate. As a result of our review, we have concluded that the noted material
weakness had no impact on our 2013 financial statements. Therefore, our consolidated financial statements,
fairly present in all material respects the financial condition, results of operations and cash flows for the
periods presented.
ITEM 9B. OTHER INFORMATION
Not applicable.
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