New mandate: Reporting on internal controls

✍ Scribed by Robert W. Rouse; Thomas R. Weirich; Paul Munter

• Publisher: John Wiley and Sons
• Year: 2003
• Tongue: English
• Weight: 84 KB
• Volume: 15
• Category: Article
• ISSN: 1044-8136
• DOI: 10.1002/jcaf.10234

✦ Synopsis

Abstract

The Sarbanes‐Oxley Act continues to change the financial reporting landscape for publicly held companies. Public firms and their auditors
face a new mandate: Make sure internal controls exist to prevent or detect fraud. And beginning in 2004, they must report on how effective the
company's internal controls really are. This will have a big impact on internal auditors' fees. More importantly, what must you do to meet
the new requirements? © 2004 Wiley Periodicals, Inc.