New Auditing Standard Seeks to Streamline
12/23/2008
The SEC’s 2007 release, Management’s Report on Internal Control Over Financial Reporting, offers management-specific guidance on meeting Sarbanes-Oxley compliance obligations. The guidance allows for greater flexibility and the exercise of truly significant judgment. In addition, the PCAOB’s AS5 top-down, risk-based orientation emphasizes the impact of the control environment on fraud risk and material failure.
Click here to read “New Auditing Standard Seeks to Streamline” by Glenn Davis, CPA, partner and Corporate Governance practice leader.