....the SEC is punishing Koss Corporation for not adequately maintaining internal controls to reasonably assure the accuracy and reliability of financial reporting. While the complaint details many deficiencies, it also makes it clear that the embezzlement required the involvement of two people and multiple methods to escape detection. Moreover, what is required is reasonable, not absolute, assurance. After a crash has occurred, one can almost always opine with confidence that more could have been done to prevent it.
A word to the wise.