Internal Controls

SECTION 404 The September Data View The Actual Internal Control Disclosures From September View Sample Disclosures Of Remediation Efforts From September View Samples Of Internal Controls As Risk Factors According to a review of regulatory filings, 40 companies disclosed material weaknesses or significant deficiencies in internal controls during the month of September, and dozens of […]

This profile is the latest in a series of weekly conversations with executives at U.S. public companies who are currently involved in establishing and developing compliance programs. An index of previous conversations is available here. WellPoint has a few executives splitting up its compliance function. What do you oversee? I’m vice president and deputy general […]

Last week, the Securities and Exchange Commission and the Public Company Accounting Oversight Board provided additional guidance on internal control over financial reporting in the form of “frequently asked questions.” The PCAOB’s 10-page FAQ covers a variety of issues, from the extent and scope of testing required by auditors, to the evaluation of deficiencies. The […]

In a recent speech at a financial reporting conference, SEC Chief Accountant Donald Nicolaisen stated that—based on recent conversations with investor groups and firms like Moody’s—not all SOX 404 material weaknesses are likely to be viewed as equally significant. During the speech, delivered at the 11th Annual Midwestern Financial Reporting Symposium in Chicago, Nicolaisen acknowledged […]

Powerpoint version of a presentation given by Compliance Week editor and publisher Scott Cohen at KPMG’s 404 Institute on Sept. 15, 2004.

This profile is the latest in a series of weekly conversations with executives at U.S. public companies who are currently involved in establishing and developing compliance programs. An index of previous conversations is available here. So where do you actually work—in one of the hotels or casinos? Yep, I’m physically located at the Trump Taj […]

Arecent survey suggests that nearly 70 percent of European companies are only at the beginning stages of their Sarbanes-Oxley Section 404 projects, and that many of them are all but ignoring the whistleblower provisions of SOX 301. The study, conducted by Netherlands-based consulting firm A.R.C. Morgan, surveyed 376 companies from 21 European countries. Most respondents […]

This profile is the latest in a series of weekly conversations with executives at U.S. public companies who are currently involved in establishing and developing compliance programs. An index of previous conversations is available here. Sunoco divides up its corporate compliance and governance between two people. What do you oversee? I have three titles and […]

Personnel issues are the second most frequently cited internal control weakness that companies are disclosing as they comply with Sections 302 and 404 of The Sarbanes-Oxley Act. Those issues are second only to problems with financial systems and procedures. According to Compliance Week’s most recent analysis of SEC filings during the month of August, 54 […]

SECTION 404 The August Data View The Actual Internal Control Disclosures From August View Sample Disclosures Of Remediation Efforts From August According to a review of regulatory filings during the month of August, 92 companies disclosed material weaknesses or significant deficiencies in internal controls, or provided material updates on the status of their control-improvement processes. […]