SEC Issues New Sarbanes Oxley Compliance Guidelines

by Sabrina I. Pacifici on May 19, 2005

Division of Corporation Finance, Office of the Chief Accountant, U.S. Securities and Exchange Commission, May 16, 2005 – Staff Statement on Management’s Report on Internal Control Over Financial Reporting:

  • “The staff is providing this guidance to…addresses the following areas: The purpose of internal control over financial reporting; Reasonable assurance, risk-based approach, and scope of testing and assessment; Evaluating internal control deficiencies; Disclosures about material weaknesses; Information technology issues; Communications with auditors; and Issues related to small business and foreign private issuers.”
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