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  "documentTitle": "Twist Bioscience (TWST)",
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      "text": "The possibility due to a lack of proper control for accounting games to occur certainly was there...the lack of controls. Can things go undetected? Probably could. That was just the tip of the iceberg.",
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      "text": "Finance organization “was a mess”; “manual processes”; ““just the tip of the iceberg”",
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      "text": "Price Waterhouse’s summary of material weaknesses in internal controls and financial reporting is striking – “a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected....” Ex-employees, as we shall detail, paint Twist’s manufacturing operations as a meltdown. An ex-executive characterized the finance organization as just as chaotic, with the potential for “accounting games to occur”: “it was a mess...relied heavily on manual processes...only a handful of people worked there...just the tip of the iceberg.”",
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      "text": "Q: “Was the finance organization not sophisticated?” A: “It was a mess. It was probably the saddest group I’ve ever seen. Not the best-trained group, who are really understaffed...it was a very overworked team. They relied heavily on manual processes.” Q: “What problems did that create?” A: “The possibility of people doing something on the accounting system and other people making changes. Not that it happened, but the ability was there as a function of the understaffing and not being able to play ball with SAP...only a handful of people worked there. And not very well in tune with what was going on in the company.... What I would say was the possibility due to a lack of proper control for accounting games to occur certainly was there...the lack of controls. Can things go undetected? Probably could. That was just the tip of the iceberg.” – Ex-Twist executive",
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      "text": "“a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected....” — Price Waterhouse. “It was a mess. It was probably the saddest group I’ve ever seen. Not the best-trained group, who are really understaffed...it was a very overworked team. They relied heavily on manual processes.” — Ex-Twist executive",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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