Internal Control Resources
In addition to serving our clients, Vibato strives to provide education on issues around internal controls, financial risk management, and compliance.
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Internal Controls Blog. Compliance updates, practical strategies, codification tools, and opinions about internal control, fraud, and audit-related topics. And more!
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Tipsheets. Strategic insight and practical tips to help you manage your internal controls, financial risk managment, and audit efforts.
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Surveys. Checklists and surveys to improve your internal control efforts.
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Codification Cheatsheet. Our most popular download. FASB Codification cross-reference chart.
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Industry links. Links to relevant associations and government agencies.
Sarbanes-Oxley 404(a) SEC Reporting Requirements
The following SEC requirements exist for all public companies, regardless of size or industry:
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The annual assessment must be performed by both a Competent and Objective party per SEC guidelines
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The establishment and documentation of internal controls around financial reporting and the systems used to produce financial reports (this includes IT-related controls).
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Testing of these internal controls to prove that they are in place and functioning as specified.
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Companies must still include a certification by the Chief Executive Officer and Chief Accounting Officer that the internal controls over financial reporting were tested as part of annual 10K statements.
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Attestation (Section 302) by executive management that all controls are in place and have been tested as working.