Summary
This 10-Q Amendment from Morgan Stanley, filed on May 10, 2010, for the period ending March 30, 2010, primarily focuses on the company's internal controls and procedures. Management, including the CEO and CFO, has evaluated the effectiveness of these controls and concluded they are effective. Importantly, there were no changes to the company's internal control over financial reporting during the quarter that materially impacted or are likely to impact its effectiveness.
Financial Highlights
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Financial Statements
Beta
| Revenue | $8.99B |
| Operating Income | $1.84B |
| Interest Expense | $1.37B |
| Net Income | $1.78B |
| EPS (Basic) | $1.07 |
| EPS (Diluted) | $0.99 |
| Shares Outstanding (Basic) | 1.31B |
| Shares Outstanding (Diluted) | 1.63B |
Key Highlights
- 1Disclosure controls and procedures were found to be effective as of the end of the reporting period.
- 2No material changes to internal control over financial reporting occurred during the quarter.
- 3The evaluation was conducted under the supervision and participation of senior management, including the CEO and CFO.
- 4This filing specifically addresses the company's adherence to Rule 13a-15(e) and 13a-15(f) of the Exchange Act.
- 5The report confirms the integrity of financial reporting processes for the period.
- 6This amendment reinforces investor confidence in the company's operational and financial transparency.
Frequently Asked Questions
The primary purpose of this 10-Q Amendment is to report on the effectiveness of Morgan Stanley's disclosure controls and procedures and its internal control over financial reporting as of the end of the fiscal quarter. It confirms that management has evaluated these controls and found them to be effective, with no material changes occurring during the period.
No, the filing explicitly states that no change in the Company's internal control over financial reporting occurred during the period that materially affected, or is reasonably likely to materially affect, its effectiveness. This indicates a stable and effective internal control environment.
The evaluation and conclusion on the effectiveness of disclosure controls and procedures were made by Morgan Stanley's Chief Executive Officer and Chief Financial Officer, under the supervision and participation of the company's management.
Disclosure controls and procedures are designed to ensure that information required to be disclosed in SEC filings is recorded, processed, summarized, and disclosed within the time periods specified by SEC rules and forms. Internal control over financial reporting is a process designed by, or under the supervision of, the company's principal executive and principal financial officers, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.