Section 404(a) of the Sarbanes-Oxley Act requires management of a public company to issue a report on
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1. Locate Management's Annual Report on Internal Control Over Financial Reporting to answer the following questions:
a. Who is responsible for establishing and implementing effective internal controls?
b. What type of internal controls is the report addressing?
c. What framework did management use to evaluate its internal control?
d. What was management's conclusion about the operating effectiveness of internal control?
e. What information is provided to help readers understand why management arrived at that conclusion?
f. What changes, if any, has management made to improve internal controls?
2. Locate the report of the independent registered public accounting firm. What information does the audit firm provide about its evaluation of internal controls over financial reporting?
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Related Book For
Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
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