INTERNAL CONTROL ASSESSMENT AND REPORTING

INTERNAL CONTROL ASSESSMENT AND REPORTING
1. company’s independent auditors are required to audit this internal control report in conjunction
  1. DEFINITION OF INTERNAL CONTROL
    1. reporting. Rule 13a-15(f) defines internal control over financial reporting as follows: The term internal control over financial reporting is defined as a process designed by, or under
    2. the supervision of, the issuer’s principal executive and principal financial officers, or persons
2. from How to Comply with Sarbanes-Oxley Section 404: Assessing the Effectiveness of Internal
3. Act, the SEC rules provide the working definition of the term internal control over financial
MANAGEMENT’S REQUIRED REPORTS ON INTERNAL CONTROL
1. report on the company’s internal control over financial reporting that contains:
  1. . A statement identifying the framework used by management to evaluate the effectiveness
  2. to whether or not internal control over financial reporting is effective. This discussion must include disclosure of any material weakness in the company’s internal control over
QUARTERLY REPORTING REQUIREMENTS
1. quarterly reporting on the effectiveness of an entity’s “disclosure controls and procedures.”
2. or persons performing similar functions, regarding the effectiveness of the company’s disclosure
3. The company’s independent auditors are not required to attest to management’s evaluation
4. files or submits under the Act is
  1. recorded,
  2. processed
  3. summarized
  4. reported
MANAGEMENT CERTIFICATIONS
1. requires a certification to accompany each quarterly and annual report
2. other reports filed with the SEC originates in areas of the company that are outside the direct

Next up

INTERNAL CONTROL ASSESSMENT AND REPORTING

Description

Resource summary

Media attachments

Similar

	Created by blanca.bello about 9 years ago