A practical, streamlined approach to certification compliance for smaller companies
For smaller organizations, the cost and complexity of developing a compliance program to meet the Canadian Securities Administrators’ new certification requirements for internal controls over financial reporting (ICFR) is daunting.
Not only is the certification journey paved with cautionary tales from large organizations of cost overruns, complex frameworks, and excessive documentation and testing, certification also exposes the inherent challenges of smaller companies. These challenges include the absence of systemized processes to implement regulatory initiatives, a shortage of appropriately skilled resources, lack of segregation of duties, and the lack of a sophisticated IT infrastructure to support certification data needs.
How does a smaller enterprise avoid the pitfalls and costly experiences of the SEC filers that have already complied with Section 404 of the Sarbanes-Oxley Act?
See full Press Release.
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