Small Filers Struggle with Internal Controls Over Fraud
Compliance Week › Vol. 7 Nbr. 76, May 2010
Linked as:
Summary
Even without Section 404(b) compliance forcing a stern look at internal controls over financial reporting, "There are plenty of things Koss's management could have done to look at its internal controls and procedures," says Tracy Coenen, a forensic accountant and fraud examiner at Sequence Inc. "No one was stopping them. It's clear that its executives were asleep at the wheel."
See the full content of this document
Extract
Small Filers Struggle with Internal Controls Over Fraud
A large school of thought has developed to support the argument that non-accelerated filers should be exempt from compliance with Section 404(b) of Sarbanes-Oxley, which requires external auditors to review and attest to the strength of a company's internal controls.
But as much as non-accelerated filers denounce the burden of Section...See the full content of this document
(Copyright 2011)
Provided by ProQuest LLC. All Rights Reserved.
Content not included in vLex Global Academic product.
Sponsored links
