Company: UONE
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001041657-25-000013
Chunk: 145

Company: URBAN ONE, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9A
Chunk 145
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(c) Changes in internal control over financial reporting

In addition to the ongoing remediation efforts described above, the Company concluded that one of the material weaknesses disclosed in our 2023 annual report on Form 10-K related to the approval of IT equipment purchases and the related recognition of this equipment as a fixed asset, has been remediated. During the fourth quarter ended December 31, 2024, the Company completed the following remedial measures designed to address the material weakness as follows: 

◦Enhanced and documented the IT asset procurement process to ensure segregation of duties and proper authorization. 

◦Developed monitoring controls over the completeness and accuracy of IT equipment inventory. 

◦Acquired and implemented technology for the global tracking and management of IT equipment purchases to ensure the effective appropriation and use of IT computing assets. 

◦Implemented new software controls in the procurement software system to centralize purchases from across business units and to require centralized executive approvals for IT equipment purchases. 

Except for these matters, there were no changes in our internal control over financial reporting during the three months ended December 31, 2024, that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.