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New mandate: Reporting on internal controls
Author(s) -
Rouse Robert W.,
Weirich Thomas R.,
Munter Paul
Publication year - 2003
Publication title -
journal of corporate accounting and finance
Language(s) - English
Resource type - Journals
eISSN - 1097-0053
pISSN - 1044-8136
DOI - 10.1002/jcaf.10234
Subject(s) - mandate , internal audit , business , accounting , internal control , audit , law , political science
The Sarbanes‐Oxley Act continues to change the financial reporting landscape for publicly held companies. Public firms and their auditorsface a new mandate: Make sure internal controls exist to prevent or detect fraud. And beginning in 2004, they must report on how effective thecompany's internal controls really are. This will have a big impact on internal auditors' fees. More importantly, what must you do to meetthe new requirements? © 2004 Wiley Periodicals, Inc.