RTI Surgical Delays 10-K Filing, Citing Internal Probe

RTI Surgical Holdings, Inc. says the company will not be in a position to file its 10-K until the results its audit committee’s investigation of revenue recognition practices are assessed.

• RTI’s audit committee, with the assistance of independent legal and forensic accounting advisors, is in the process of conducting an internal investigation of current and prior period matters relating to the company’s revenue recognition practices
  • Cites practices regarding timing of revenue with respect to certain contractual arrangements, primarily with OEM customers, including the accounting treatment, financial reporting and internal controls related to such arrangements
• Audit committee investigation was precipitated by ...