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Regulators Continue Full Throttle on Internal Controls

Tammy Whitehouse | December 9, 2015

Public companies can expect no relief in the regulatory and audit pressure on internal control over financial reporting, based on the latest remarks out of the Securities and Exchange Commission.

Schnurr-james-1214-updatedInstead, Chief Accountant Jim Schnurr is encouraging preparers to communicate more with their auditors and open up to the idea that perhaps the tension arises because their controls are not up to snuff. “The ICFR issues identified by the PCAOB may not be just a problem of audit execution,” he said at an annual national accounting conference on accounting and auditing...

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