Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

What change was made to the internal controls of the companies by the SOX?

What change was made to the internal controls of the companies by the SOX?

user-image
Question added by Mohammad Iqbal Abubaker , Jahaca Pty Ltd - Accounts Administrator , Jahaca Pty Ltd - Accounts Administrator
Date Posted: 2016/03/25
Deleted user
by Deleted user

1-Makes officers responsible for maintaining effective internal control and requires the principal executive and financial officers to disclose all significant internal control deficiencies to the company’s auditors and audit committee.

2-  Management acknowledge its responsibility for establishing adequate internal control over financial reporting and provide an assessment in the annual report of the effectiveness of internal control.

More Questions Like This