12:15 PM EST, 12/20/2024 (MT Newswires) -- Entergy ( ETR ) has agreed to pay a $12 million civil penalty to settle charges of internal accounting controls violations, the US Securities and Exchange Commission said Friday.

The SEC alleged that since mid-2018, Entergy ( ETR ) has failed to accurately record potential surplus materials and supplies by including these at their average cost as assets on its balance sheets in violation of generally accepted accounting principles, or GAAP.

Entergy ( ETR ), without admitting or denying the charges, agreed to pay the penalty and adopt recommendations to improve its internal accounting controls, SEC said.

Entergy ( ETR ) did not immediately respond to MT Newswires' request for comment.

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