The SEC finds that internal accounting controls failed to prevent nine public companies from losing money to business email fraud.
The SEC says the three accountants misrepresented that the audit had been completed after the audit team fell behind schedule.
To the long list of massive administrative headaches multinational finance departments must start thinking about, we may now add trade compliance.
Whether internal or external, audits rarely detect insider fraud. Here’s why.
If the acquiring company elects to exempt the target from Sarbanes-Oxley Section 404 internal controls attestation, negative stock returns may follow.
A Citigroup subsidiary failed to detect fraudulent invoices and work estimates in a receivables factoring program for an oil industry provider.
The startup, AuditBoard, offers a cloud-based platform for managing Sarbanes-Oxley compliance and other aspects of internal auditing.
Sarbanes-Oxley compliance costs shot up this year, underscoring the need for companies to automate more of their compliance activities.
How does an auditor figure out whether a matter involves especially "challenging, subjective, or complex judgment?"
Where there are impairments for intangible assets such as goodwill, other liabilities may be lingering on the balance sheet as well.