Hi SOX & Internal Controls Pro Group Members. I am pleased to share that we have kicked off our annual State of the SOX & Internal Controls Market Survey. ...
We are a bank as well; I try my best to summarize the deficiencies to the Audit Committee. I provide our SOX Committee with all of the details. I provide the Audit Committee with a very high level summary of the "exceptions", issues we deemed not a ...
Thanks for the response. To your point, in the example above, we expanded the sample to deem the issue isolated. Other examples would be (we're a bank) in regard to loan approvals. The control is automated system routing for proper approval. The ...
In your example, I recommend first concluding whether it was a SOX control deficiency or not. It sounds like there was a breakdown in the access provisioning control process. Depending on root cause and your population/sample size, there may be ...
Hi all, I'm looking for a few insights in how you all report your SOX findings to management/board of directors/audit committee. Currently, if a control breaks down, we're reporting it to our SOX Committee (management) and Audit Committee, even if ...
All, Hope all is well. I'm currently working with a SOX Compliance team that is looking for improve the SOX 302 disclosures process. Therefore, I would like to have some feedback from your side regarding tools and process improvements implemented ...
By George Wilson, On November 22, 2023, the SEC postponed the effective date of its Share Repurchase Disclosure Modernization rule . The postponement was in the wake of an opinion by the U.S. ...
By George Wilson On November 7, 2023, the Division of Corporation Finance announced a new online system for submitting shareholder proposals under the Division’s process to provide informal, non-binding ...
As segment reporting continues to be an ongoing area of concern for the SEC, we compiled a report reviews segment reporting comment letter trends. With the expected adoption of a significant update ...
By George Wilson On September 25, 2023, the SEC announced a settled enforcement action against GTT Communications, Inc. GTT grew rapidly, primarily through acquisitions. This growth created ...
By George Wilson On August 28, 2023, the SEC announced an Order of Suspension Pursuant to Rule 102(e) barring Peter Armbruster, CPA, former CFO of Roadrunner Transportation Systems, Inc. (“Roadrunner”), ...