Management’s Reports on Internal Controls
Description Report Synopsis This study describes predominant practices for Management’s Reports on Internal Controls. It is based on a review and analysis of disclosures released after the November 15, 2004 effective date of Section 404 of the Sarbanes-Oxley Act of 2002. The report: • Analyzes Management’s Reports on Internal Controls and the related auditors’ reports filed in Securities and Exchange Commission (SEC) Forms 10-K and 10-K/A to identify common formats and inclusion of all required statements. • Summarizes predominant practices for Management’s Reports issued during 2005. • Classifies the types of material weaknesses and control deficiencies reported. • Cites and analyzes voluntary disclosures. • Identifies where Management and Auditor Reports on Internal Controls were reported in the 10-K and 10-K/A.
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