Print Page      Close Window     

SEC Filings

20-F
TRIVAGO N.V. filed this Form 20-F on 03/06/2018
Entire Document
 



with the preparation of our 2015 financial statements, we identified a material weakness primarily related to the lack of sufficient accounting and supervisory personnel with the appropriate level of technical accounting experience and training necessary or processes and procedures, particularly in the areas of share-based compensation, build-to-suit lease accounting and internal use software and capitalization of website development costs and other complex, judgmental areas and consequently needed to rely on the assistance of outside advisors with expertise in these matters to assist us in our preparation of U.S. GAAP financial statements and our compliance with SEC reporting obligations. The material weakness remained unremediated as of December 31, 2016.
In our efforts to remediate the material weakness described above, we have implemented additional internal controls over financial reporting, such as those with respect to the preparation and review of U.S. GAAP adjustments, disclosures and significant transactions. We have also hired personnel with the appropriate level of technical accounting expertise under U.S. GAAP, strengthened our internal capabilities and expertise in the preparation of our financial statements in accordance with U.S. GAAP, created and implemented accounting policies and enhanced the training of our accounting and financial reporting personnel. Due to these additional internal controls and other measures that we have implemented, management determined that the previously existing material weakness described above had been remediated as of December 31, 2017.
See “Item 3 D. Risk factors—In the past, we identified a material weakness in our internal control over financial reporting. If the measures we have implemented, including internal controls, fail to be effective in the future, any such failure could result in material misstatements of our financial statements, cause investors to lose confidence in our reported financial and other public information, harm our business and adversely impact the trading price of our ADSs.”

141