Veritas Discloses Material Weakness In Financial-Reporting Controls

By Steven Marlin Courtesy of InformationWeek.

Veritas Software Inc. has again delayed the filing of its 2004 10-K report in order to give its auditor, KPMG, more time to complete the assessment of the company's control over internal financial reporting, as required by the Sarbanes-Oxley Act's section 404.
Veritas last month notified the Securities and Exchange Commission that the filing would be delayed beyond the original March 16 deadline until March 31. It now says the filing will be delayed until April 11. The delay won't affect its pending merger with Symantec Corp., the company said in a statement.

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