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  "documentTitle": "Essential Utilities, Inc. (WTRG)",
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      "text": "WTRG's Recent Discussion of Changes of Internal Controls Removed Reference To Timing of Next Phase",
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      "text": "In fact, we find that post Q1'2022 that WTRG removed a reference that its next phase of implementation would be expected to go live in H2'2023.",
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      "text": "Source: 2022 Q1, Q2, Q3 10-Q filings",
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      "text": "Based upon Spruce Point's research, we believe that WTRG has struggled with implementing a new ERP. This could be part of the reason we observe issues with financial reporting. In fact, we find that post Q1'2022 that WTRG removed a reference that its next phase of implementation would be expected to go live in H2'2023.",
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      "text": "We are in the process of implementing a new enterprise resource planning (ERP) system for our Regulated Water business segment that enhances our business and financial processes and standardizes some of our information technology systems with our other segments. In connection with this new ERP implementation, we have updated our internal controls over financial reporting, as necessary, to accommodate modifications in our Regulated Water business processes and accounting procedures. The next phase of the ERP implementation will address the Regulated Water business segment's customer information system, which includes customer billing, and is expected to go live in the second half of 2023.",
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      "text": "We are in the process of implementing a new enterprise resource planning (ERP) system for our Regulated Water business segment that enhances our business and financial processes and standardizes some of our information technology systems with our other segments. In connection with this new ERP implementation, we have updated our internal controls over financial reporting, as necessary, to accommodate modifications in our Regulated Water business processes and accounting procedures. The next phase of the ERP implementation will address the Regulated Water business segment's customer information system, which includes customer billing, and is expected to go live in the second half of 2023. — Essential Utilities, Inc. 2022 Q1 10-Q filing",
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