I have a financial and Accounting background and personally I am...

I have a financial and Accounting background and personally I am ok with all of this. It is as is expected.

1. The subsidiary companies that are out of their control did not provide the information requested by their auditors on time.
2. the 4C therefore was on unaudited information
3. Once provided the adjustments were made to revenue recognition
4. they grew too fast and didn't have controls in place for subsidiaries and cross boarder issues
5. they are holding a conference with everyone on accounting and new procedures will be implemented by the end of the year

this is just my opinion.