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Auditing World Braces: More ICFR Attention, Big Rule Changes

Tammy Whitehouse | January 5, 2016

The full-court press on internal controls and related documentation will not let up in 2016, although companies will have to answer those demands while also bracing for other big accounting and auditing changes on the horizon.

fornelli-cindy-updated“Internal control over financial reporting will remain on everyone’s radar,” says Cindy Fornelli, executive director of the Center for Audit Quality. “We will continue to hear that in 2016.” The Public Company Accounting Oversight Board and the Securities and Exchange Commission are not expected to change their approach to internal controls, she says, despite some pushback from the corporate community.

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