Two former Boeing staff members learned the hard way that SOX whistleblower rights do not extend when the whistle is blown to the media, rather than to their company supervisors, federal agencies, or Congress.
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In my previous post about SOX 404(a) and non-accelerated filers, I highlighted some of the requirements of the legislation. Below I have outlined a proven approach to dealing with those legislative requirements in a cost-effective, efficient way.
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Tags: Internal Controls, 404, Sarbanes-Oxley
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.
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Tags: Internal Controls, 404, 404 audit, Non-accelerated filer 404(b) information
Hal. S. Scott published an article today entitled "Capital Market Regulation Needs an Overhaul" located via this link:
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Tags: Internal Controls, Sarbanes-Oxley Articles & Information, SOX, Non-accelerated filer 404(b) information, Wall Street Reform, internal control, Sarbanes-Oxley, external auditing
An internal control deficiency can be caused by a number of issues but it is primarily defined as an error discovered during internal controls testing (e.g., a payment was coded to utilities when it should have been coded to inventory) or during a review of the internal control evidence (e.g., the internal or external auditors discover the coding mistake rather than management finding it as part of their closing activities). An internal control deficiency may also occur simply from someone forgetting to execute one of their internal controls entirely.
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Tags: Internal Controls, Compliance tools, risk assessment, audit, SOX, 404 audit, best-practice, Controls Testing, 10k, Product Information, Sarbanes-Oxley Training, compliance, risk management, Sarbanes-Oxley, audit deficiency, Internal Control Deficiency
