Posts Tagged ‘SOX’

Internal Audit Survey-Palooza

internal audit

Spring is the season for surveys about the internal audit world, so today we have three recent studies to help audit and compliance executives understand the concerns driving that particular function right now. No surprise: those concerns are data and technology, all the way down. First we have PwC’s 2018 State of Internal Audit report,…

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New Audit Report Format Approved

pcaob

Auditors and corporate reporting professionals everywhere, prepare yourselves: The SEC has approved the new, more detailed format for external auditors’ reports! The new standard, drafted by the Public Company Accounting Oversight Board after seven years of negotiations, requires audit firms to disclose “critical audit matters” (CAMs) they find while auditing your financial statements. That approach…

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PCAOB Sets New Audit Report Format

pcaob

Compliance and audit executives, set your countdown clocks: a new type of audit report will be arriving at your organization three years from now. Today the Public Company Accounting Oversight Board finally adopted a new standard for the report, which will require more disclosure of “critical audit matters” that weigh on the mind of your…

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Some Other Posts Worth Reading

compliance

Occasionally I write guest posts about compliance and governance topics elsewhere on the Web. Three of those posts have recently gone live, one about third-party risk management and two others about the proper love and care of SOX compliance programs. If you just can’t get enough of me, here is a run-down of where to…

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Best Practices in SOX Certifications

Some shameless self-promotion today: I have a guest post on Workiva’s blog about financial reporting and SOX compliance, exploring a few best practices in how companies can design and operate certification programs for SOX controls. Getting control owners to certify the effectiveness of those controls is not a new idea, I know. (I first wrote…

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Of SOX Controls and Earnings Reports

compliance

The data analytics gurus over at Calcbench just published some numbers that SOX compliance and SEC reporting professionals might find interesting: a study of the gap between publishing an earnings release and filing the subsequent quarterly report. Calcbench reviewed the Form 8-K earnings releases and Form 10-Q quarterly reports from 3,399 companies that filed in…

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Talking About Tech Shifts at TEC 2016

Workiva’s TEC 2016 user conference kicked off today, and I have the good fortune to be on site here in San Diego. Today’s main sessions hit on themes of technology power and flexibility—which compliance and audit executives certainly need as they confront the modern regulatory and reporting climate. Workiva started by announcing a flurry of enhancements…

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Finding Parallels in SOX Compliance and ERM

My phone rang earlier this week, and at the other end of the line was my compliance officer contact in higher education. “Matt,” she said, “I’m looking for GRC software that can help with the university’s risk management program. We started with a database in Microsoft Access and want something that can really handle enterprise…

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How Is SOX Compliance Part of ERM? This Is How

I never expected the Securities and Exchange Commission to appreciate Throwback Thursdays—but that’s what we saw from the SEC yesterday, when it served up a good old-fashioned enforcement action for faulty evaluation of internal controls. The target was Magnum Hunter Resources Corp., an oil services company in Texas (with a name like that, where is else…

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Michael Oxley, of Sarbanes-Oxley Fame, Dies at 71

For any compliance and audit professionals who wonder, “How did all this ever come to pass?” or even more to the point, “Can I really make money doing this?”—spare a thought for one of the people who put you on this career path, and who passed from the scene last week. Michael Oxley—yes, that Oxley,…

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