●  Taylor Morrison Home Corp · FY 2023 

Controls & Procedures

Taylor Morrison Home Corp has reported a robust financial reporting environment, with both management and independent external auditors concluding that internal controls were effective in all material respects as of December 31, 2023. The company maintained adherence to established frameworks and confirmed no significant changes or identified deficiencies during the reporting period. This assessment confirms the effectiveness of procedures designed to ensure timely alerting of material information required for SEC filings.

TMHC L1 Synthesis
●  SYMBOLOGY.ONLINE l1 SYNTHESIS 

Taylor Morrison Home Corp Controls & Procedures Synthesis

Summary of Disclosure and Internal Controls Over Financial Reporting (ICFR)

Overall Assessment

Taylor Morrison Home Corp has reported a strong control environment, as both management's internal assessment and the independent external audit concluded that controls were effective in all material respects as of December 31, 2023. The company maintains adherence to established frameworks (COSO 2013) and reports no significant changes or identified deficiencies during the reporting period.

Disclosure Controls and Procedures (DCP)

Management's Conclusion on DCP Effectiveness

Management concluded that its disclosure controls and procedures were effective as of December 31, 2023. The purpose of these controls is to ensure that management is alerted in a timely manner to material information required for SEC filings.

Internal Control Over Financial Reporting (ICFR)

Management's Assessment of ICFR Effectiveness

Management assessed the effectiveness of its internal control over financial reporting based on the COSO 2013 Framework. The company concluded that its ICFR was effective as of December 31, 2023.

Independent Auditor’s Opinion

The independent registered public accounting firm (Deloitte & Touche LLP) concurred with management's assessment, stating in their opinion that the Company maintained, "in all material respects, effective internal control over financial reporting as of December 31, 2023."

Material Weaknesses and Significant Deficiencies

The provided documentation does not identify any specific material weaknesses or significant deficiencies within the company’s ICFR. The text notes only the inherent limitations of any internal control system, stating that controls "can provide only reasonable assurance with respect to financial statement preparation" and may not prevent or detect all misstatements.

Changes and Remediation Efforts

Changes in Internal Controls (Noteworthy Finding)

[NOTABLE] Management explicitly reported that there was no change in the company's internal control over financial reporting during the quarter ended December 31, 2023, that materially affected or is reasonably likely to materially affect its ICFR.

Remediation Efforts and New Controls

No specific remediation efforts are detailed because no material weaknesses were identified. Furthermore, the provided text does not introduce any noteworthy new controls or procedures; the focus remains on the assessment of existing controls.