18 Nov Management’s Guide to Sarbanes-Oxley Section 404, 4th Edition

Author: Norman Marks, CPA, CRMA

ISBN: 978-1-63454-007-0

Year of Publication: Sept 2017

Sarbanes-Oxley Act Section 404 mandates that all publicly traded companies must establish internal controls and procedures for financial reporting and must document, test, and maintain those controls. The primary change in this 4th edition is to incorporate the comments and explanations of Staff Audit Practice Alert No. 11 and subsequent publications by the U.S. Public Company Accounting Oversight Board (PCAOB). There is a new section on management review controls, a more general chapter on the impact of the PCAOB’s examinations, and a chapter that discusses prosecutions under Sarbanes-Oxley. A helpful checklist that helps management teams complete a self-assessment and ensure their Sarbanes-Oxley program is efficient is also included.
Popular author and thought leader Norman Marks shows readers how to:

  • Design a scope of work for their Sarbanes-Oxley assessment that is top-down and risk-based.
  • Understand the relationship between Sarbanes-Oxley Sections 302 and 404.
  • Appreciate the alternative methods, including the use of technology, to test key controls.
  • Improve the overall efficiency of their internal controls systems, not just the controls relied on for financial reporting.

This book has a high-level section for CEOs and CFOs who must sign off on required internal controls-related reports, as well as detailed guidance for managers of their company’s Sarbanes-Oxley programs. It is written for management by an experienced head of internal audit who has been involved with The IIA’s advice and guidance on Sarbanes-Oxley compliance since 2002. It incorporates and reflects up-to-date guidance from the U.S. Securities and Exchange Commission (SEC), the PCAOB, and The IIA.