You don’t want to travel to an unfamiliar destination without a map. The same holds true for companies navigating the road to Sarbanes-Oxley Section 404 compliance.
Many companies have reaped significant benefits by following the new guidance from the Securities and Exchange Commission (SEC), as well as the revised auditing standard from the Public Company Accounting Oversight Board (PCAOB). This new guidance is principles-based, which allows companies the flexibility to further navigate and appropriately scope their approach to compliance.
By getting a handle on their internal controls, companies can reduce the risk of making material misstatements in financial reports and minimize the possibility of fraud. And by anticipating what can go wrong, global companies and small companies alike can bolster their efficiency while safeguarding the interests of investors.
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