Free Webinar: SSAE 16: How to Review your Vendors Internal Controls

Posted by Teresa Bockwoldton March 4, 2012

 

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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

Posted by Teresa Bockwoldton February 22, 2012

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). 

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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"

Posted by Teresa Bockwoldton December 21, 2011

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:

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Tags: Internal Controls, SOX, 404 audit, audit scope, COSO, Internal Control Education

Why Does my Audit Take so Long and Cost SO MUCH??!

Posted by Teresa Bockwoldton October 17, 2011

Let's just get down to the skinny of it, audits in any form are painful. We get that.

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Tags: PCAOB News & Information, 404 audit, audit scope, external auditing, PCAOB

SOX Internal Controls Requirements Studied by SEC

Posted by Nancy Johnsonon April 26, 2011

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