Beyond Meat Plans to Strengthen Financial Reporting Safeguards

Beyond Meat Inc. told investors it’s taking steps to address “material weakness” in internal procedures aimed at safeguarding financial reporting.

The plant-based protein company is working on a remediation plan, which could funnel more resources to the accounting department and bring on external advisers, according to Beyond Meat’s quarterly report filed Wednesday with the US Securities and Exchange Commission.

Beyond Meat’s management has concluded there’s currently “inadequate technical resources” to identify and determine the proper accounting for “non-recurring complex transactions,” the filing said.

• The company flagged in a filing Nov. 7 that it expected to report that a weakness in ...