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Free Webinar: SSAE 16: How to Review your Vendors Internal Controls
Tags: Internal Controls, Sarbanes-Oxley Articles & Information, Compliance tools, 404, 404 audit, SSAE 16, Sarbanes-Oxley Training, compliance, internal control, SAS 70, Internal Control Education, internal control tips
Change to Sarbanes-Oxley Section 404 Requirements in 2012 Likely
New legislation is gaining steam that would change the definition of which companies are subjected to an external audit review of their internal controls (e.g., Sarbanes-Oxley Section 404(b)). The bill, called 'H.R.3606 - Reopening American Capital Markets to Emerging Growth Companies Act of 2011,' passed the House by an overwhelming bipartisan vote of 54-1. The bill still has to go through the Senate and then get Presidential approval before it becomes law (you can follow the progress here: http://www.opencongress.org/bill/112-h3606/show).
Tags: Internal Controls, Sarbanes-Oxley Articles & Information, 404, SOX, AICPA, 404 audit, audit costs, Non-accelerated filer 404(b) information, Sarbanes-Oxley Training, Sarbanes-Oxley, external auditing, Internal Control Education
COSO - updated "Internal Control -- Integrated Framework"
COSO is coming out with a revision to the famous 'COSO Cube' and they have submitted a draft for public comment. The COSO Cube provides the basis for all internal control infrastructures, including Sarbanes-Oxley implementations, and it gives guidance on how to structure and audit control procedures. PwC participate in the update and they have provided a nice synopsis below of the pending change:
Tags: Internal Controls, SOX, 404 audit, audit scope, COSO, Internal Control Education
Tags: PCAOB News & Information, 404 audit, audit scope, external auditing, PCAOB
The costs and impact of SOX 404(b) -- which requires auditor review of internal controls over financial reporting -- was the subject of an SEC study published on April 22, 2011.
Tags: Internal Controls, 404, 404 audit, Non-accelerated filer 404(b) information