●  APA Corp · FY 2022 

Controls & Procedures

A review of financial governance at APA Corp confirms that its internal controls and procedures were deemed effective as of December 31, 2022. The company reported a period of stability regarding its core control structures, noting no material changes or significant deficiencies in internal controls over financial reporting during the specified time frame.

APA L1 Synthesis
●  SYMBOLOGY.ONLINE l1 SYNTHESIS 

Apa Corp Controls & Procedures Synthesis

Internal Controls and Procedures Summary Report: APA Corp

Management's Conclusion on Disclosure Controls

The Company’s principal executive officer (CEO) and chief financial officer (CFO) evaluated the effectiveness of the disclosure controls and procedures as of December 31, 2022.

Effectiveness Assessment
  • Strength: The officers concluded that the Company's disclosure controls and procedures were effective. This means they provide adequate mechanisms to ensure required information is recorded, processed, summarized, and reported within regulatory timeframes and communicated timely to management for decision-making.
  • Proactive Review: The Company maintains a policy of periodically reviewing the design and effectiveness of its disclosure controls to ensure compliance with applicable laws both domestically and internationally.

Internal Control Status and Changes

The report addresses changes in internal control over financial reporting (ICFR) during the specified period.

Noteworthy Change Assessment
  • Stability: Noteworthy Finding: There was no change in the Company's internal controls over financial reporting during the quarter ending December 31, 2022, that was deemed likely to materially affect or had materially affected the ICFR. This indicates a period of stability regarding core control structures.

Identified Deficiencies and Remediation Efforts

The report details any weaknesses identified by management or auditors.

Material Weaknesses and Significant Deficiencies
  • Weakness/Deficiency Status: No material weaknesses or significant deficiencies in internal controls were explicitly disclosed within this excerpt.
  • Remediation Policy (Strength): The Company maintains a formal process to address control issues; it states that if its periodic reviews identify any deficiencies or weaknesses, the Company may take other corrective action and make modifications to improve the design and effectiveness of its disclosure controls.