Financial Executives Research Foundation, the research affiliate of Financial Executives International, has released two new reports on Sarbanes-Oxley compliance and management reports on internal controls.
"With the bulk of Section 404 implementation in place at many companies, we believe this is an important time to assess the progress made, and to look ahead at helpful business lessons we can apply to the future," said Colleen Cunningham, president and chief executive of FEI and FERF, in a statement. "The report identifies best practices for companies in 2006 and beyond."
The reports were released in conjunction with FEI's conference on current financial reporting issues in New York.
"Sarbanes-Oxley Section 404 Compliance -- From Project to Sustainability," summarizes the compliance practices of leading companies and describes how they are improving their processes in the second year of compliance. The report was produced with Dr. Robert A. Howell, distinguished visiting professor of business administration at Dartmouth's Tuck School of Business.
"Management's Report on Internal Controls" analyzes these disclosures and related auditors' findings filed in Securities and Exchange Commission Forms 10-K and 10-K/A to identify common formats and inclusion of all required statements. The report was produced with Mark P. Holtzman, assistant professor of accounting at Seton Hall University.
Both reports are available at www.fei.org/rfbookstore/. FERF is offering the Section 404 report free, while the internal controls report is available to FEI members at no charge and costs $49.95 for non-members.
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