CCH has released a white paper on the recent regulatory guidance from the Securities and Exchange Commission and the Public Company Accounting Oversight Board concerning the internal control provisions of the Sarbanes-Oxley Act.
The paper is authored by CCH principal analyst, and securities law expert, Jim Hamilton.
Reporting on the adequacy of internal controls was a significant element of the corporate reforms embodied in the SOX legislation and Hamilton tackles a number of issues surrounding the legislation, including:
- Why regulators felt that a new approach was necessary;
- The broad principles behind the guidance; and,
- What the new issuances mean in practice for auditors.
“The issuances emphasize a ‘principles-based’ and risk-based approach,” said Hamilton, in a statement. “This allows for greater discretion and judgment in assessing the effectiveness of the company’s internal control over financial reporting.”Hamilton has spent nearly 30 years analyzing securities law and regulation for CCH, which is part of Wolters Kluwer Law & Business.
The full white paper is available online, at www.cch.com/press/news/2007/CCHWhitePaper-InternalControls.pdf.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access