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comScore Still Studying Accounting Issues

In an update of the review of the “accounting issues” that arose earlier this year, comScore said its audit committee is still studying the information it has collected and needs more time before it can complete financial reports for last year and the first quarter of this year.

The issue has affected comScore’s stock and threatens its listing on Nasdaq. Analysts say the review involves the accounting for some non-cash transactions.

 “The Audit Committee continues to work vigorously to complete its review and to report its findings to the Board," comScore said In a filing with the SEC Monday. "To this end, the independent counsel and other advisers to the Audit Committee have completed a substantial amount of their factual inquiries to address the Audit Committee’s review. The Audit Committee and the Board, however, require further time to evaluate the information collected and to reach and evaluate final conclusions."

Read more at B&C.