Fabulous Under Armour Audit Firm

Under Armour is the subject of federal investigations by the Justice Department and Securities and Exchange Commission over its accounting practices the company confirmed Sunday.

Under armour audit firm. 1 Independence Discussions with Audit Committees and has discussed with the independent registered public accounting firm their independence from Under Armour. NewYork CNN Business Under Armours two highest-ranking executives received a notice that they could face civil charges for past accounting practices. Under Armours accounting practices are under investigation in the United States heaping pressure on the struggling company as it seeks to reverse years of lackluster sales.

Breaking from their typical company policy of not discussing any regulatory or litigation matters Under Armour CFO David Bergman confirmed the company is the subject of an investigation but said we firmly believe that accounting practices and disclosures are and have been appropriate. The Audit Committee also has received from the independent registered public accounting firm the written disclosures and the letter required by Independence Standards Board Standard No. Under Armour shares tumbled Monday following reports of a federal investigation tied to its accounting practices and after the Baltimore-based company slashed its full-year revenue outlook.

Mail on or about April 12 by its auditing firm PricewaterhouseCoopers. For use at the Annual Meeting of Stockholders and any adjournment or postponement thereof. A concise review of the auditors report for Under Armour Inc.

Reveals that the auditors render an unqualified opinion. PwC gave it a clean audit opinion in its last annual report even though its accounting has been a mess for a while. Missing Under Armour thumb drive with employee information was being mailed between offices of accounting firm PricewaterhouseCoopers.

In this Proxy Statement we refer to Under Armour Inc. The thumb drive was sent by mail in connection with a recent audit the memo said. Our principal offices are located at 1020 Hull Street Baltimore Maryland 21230.

Under Armours Strategy Identifying influencing factors of a companys macro-environment helps in the strategic development and management within a company. As Under Armour we. The WSJ story doesnt mention Under Armours auditor PwC nor the partner responsible for the audit even thought it is now easily looked up in a public database.