Tech Data 2013 Annual Report Download - page 103

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Table of Contents
The Company is evaluating or implementing various remedial actions to address the material weaknesses described above. These actions include
the following:
Changes in Internal Control over Financial Reporting
There were no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act)
identified in connection with management’s evaluation during our last quarter of fiscal 2013 that have materially affected, or are reasonably likely
to materially affect, the Company’s internal control over financial reporting.
91
•
Certain personnel responsible for accounting improprieties are no longer employed by the Company.
•
The Audit Committee, Board and executives have increased communication to all employees regarding the ethical values of the Company,
requirement to comply with laws, the Code of Conduct and the Company's accounting policies.
• The Company has engaged external experts to perform the internal audit function and to assist with the implementation of specific fraud
detection procedures.
• The accounting organization is adding resources to address standardization, training and competencies related to the use of accounting
systems and to enhance all accounting personnel's understanding of accounting policy.
•
The Company is implementing changes to its compensation programs to better motivate accurate financial reporting and compliance.
•
The Company is implementing changes in various processes, including: tools to document, support and review manual journal entries; new
financial statement review and audit programs; and centralization of various control and finance processes.
• The Company is in the process of evaluating potential enhancements to the accounting and enterprise computer systems to improve
systematic controls and account reconciliation processes.
•
The Company is in the process of evaluating its organizational structure, and roles and responsibilities to enhance controls and compliance.
• The Company has appointed a Chief Ethics and Compliance Officer and intends to evaluate additional enhancements to its compliance
structure and organization.