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- Title
Companies Not Excited about Prospective Internal Controls Report.
- Authors
Barlas, Stephen; Nainani, Greg; Thompson, Lance; Verschoor, Gurt; Williams, Kathy
- Abstract
This article reports on the disapproval among U.S. companies on the proposed internal control reporting of the Securities and Exchange Commission (SEC) in the U.S. The disapproval comes largely in response to the Sarbanes-Oxley Act which contains provisions that require independent accounting firms to attest to and report on management's assessment of their internal controls and procedures related to financial reporting. Some critics claim this procedure will be to costly and urge the SEC to withhold its implementation until the rule can be more fully analyzed by the Public Company Accounting Oversight Board.
- Subjects
UNITED States; BUSINESS enterprise laws; INTERNAL auditing; CONTROL self-assessment (Auditing); UNITED States. Sarbanes-Oxley Act of 2002; UNITED States. Securities &; Exchange Commission; AUDITING of corporations; PUBLIC Company Accounting Oversight Board; MANAGEMENT controls; FINANCIAL disclosure laws; WHISTLEBLOWING laws; COST effectiveness; AUDITING laws
- Publication
Strategic Finance, 2003, Vol 84, Issue 8, p23
- ISSN
1524-833X
- Publication type
Article