Many would prefer a risk-based strategy of Sarbanes-Oxley compliance that would dispense with the ''checklist'' approach and enable them to channel corporate energies toward the most serious problems.
David M. Katz, CFO.com | US
February 9, 2006
It is typical of US regulators to go overboard.AS 2 is a clear example.While there is merit in having Internal controls documented and tested ,reliance on "sign and File"has been a dampener.Emphasis should be controls over areas that can be critical and any lapse would result in Misstatement. Rubbishing the Act is also foolhardy. The introduction of SOX has put the fear of God into the Top management and the Auditors.
Posted by Jacob James | February 17, 2006 10:48 am
If RTFM means what I think it means, I agree with Edda Junka. Go to our website and see a full copy of TFM beautifully laid out and interactive. It's free. Jessica Wall www.sarbanesoxleysimplified.com
Posted by Jessica Byrnes | February 13, 2006 05:20 pm
Why is this news? The PCAOB and SEC have included risk-based assessments in SOX since AS-2 (at least). And they stressed it again in separate statements last May. How is it that CFOs are now seeking something that is intrinsic to the regulation? Maybe companies wouldn't have so much trouble with SOX if they'd just RTFM.
Posted by Edda Junke | February 13, 2006 12:23 pm© CFO Publishing Corporation 2009. All rights reserved.