SunEdison delays results again citing IT error

The company had 15 days to report after announcing the delay on 1 March. Source: SunEdison.

Embattled renewable energy developer SunEdison has missed the deadline to report its fourth quarter and full year results.

In a statement to the SEC the company said it would not be able to file within the 15-calendar-day period following the initial delay, as set out in its rules.

SunEdison said the work required to file its latest figures had increased in scope “due to the identification by management of material weaknesses in its internal controls over financial reporting, primarily resulting from deficient information technology controls in connection with newly implemented systems”.

There is currently an internal audit investigation triggered by concerns from a former and a current employee. The latest update from the company said that the investigation was not yet finished but had so far uncovered nothing to suggest problems with the company’s previous reporting.

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Tags: sunedison, finance