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Complying With Internal Controls To Manage Enterprise-Wide Risks Effectively

Farrell John | April 24, 2003

The overhaul in corporate accountability sparked by the Sarbanes-Oxley Act of 2002 marks the most dramatic and far-reaching reform affecting financial reporting in almost 70 years. When it comes to complying with the new rules on certifications and the issuance of management's report on internal controls, Section 404 can be seen as an opportunity to broaden the compliance process to an enterprise-wide risk management perspective.

This developing trend of analyzing and monitoring the full spectrum of business risks-including the risks assessed in an internal controls review-can enable the company to achieve its strategic aims and help increase shareholder and stakeholder value.

Complying with the requirements of Section 404 need not be an impediment to, nor must it...

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