Governance: Krispy Kreme filing cited for its details.(businessBRIEFS)(Krispy Kreme Doughnuts Inc.)(Brief Article)

Financial Executive, October, 2005 by Heffes, Ellen M.; Marshall, Jeffrey

An 8-K filing by beleaguered Krispy Kreme Doughnuts Inc. in August was striking in the amount of information it offered and a testament to the way disclosure has changed since the Sarbanes-Oxley Act, says Dr. C. Warren Neel, executive director of the Corporate Governance Center at the University of Tennessee.

Krispy Kreme issued the filing and a press release related to a report to the company's board by a special committee. The panel was charged with reviewing the company's financial statement adjustments, recent operating results, liquidity and capital resources and material weaknesses in internal control over financial reporting.

The franchise doughnut firm, based in Winston-Salem, N.C., was walloped last year and earlier this year with charges of...

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