Mattel completes internal investigation of whistleblower letter and announces remedial actions

Mattel completes internal investigation of whistleblower letter and announces remedial actions.mattel inc - investigation determined that income tax expense was understated by $109 million in q3 of 2017.mattel inc - determined that there were material weaknesses in its internal control over financial reporting.mattel inc - investigation determined that income tax expense was overstated by $109 million in q4 of 2017, with no impact for full year.mattel - errors were non-cash, did not affect operating. income or ebitda, had no impact on full year financial results for 2017 or subsequent periods.mattel inc - audit committee concluded that objectivity and impartiality of mattel's outside auditor has not been impaired.mattel inc - audit committee concluded co's outside auditor can continue as its independent auditor.mattel inc- determined there were material weaknesses at time of preparation of financial statements for qtrs ending on sept 30, 2017 and dec 31, 2017.mattel inc - mattel's outside auditor has replaced its lead audit engagement partner.mattel inc - will undertake a series of remedial actions, including amendment of 2018 form 10-k to restate last two quarters of 2017.mattel inc - also elected to revise 2019 and prior periods for certain other immaterial, out-of-period adjustments.mattel inc - 2019 and prior periods revisions unrelated to letter or issues investigated by audit committee..
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