Posted On: 08/20/2014 8:11:04 AM
Post# of 5949
SOX compliance...
http://en.wikipedia.org/wiki/SOX_404_top%E2%8...assessment
Excerpt:
"At each step, qualitative or quantitative risk factors are used to focus the scope of the SOX404 assessment effort and determine the evidence required. Key steps include:
-identifying significant financial reporting elements (accounts or disclosures)
-identifying material financial statement risks within these accounts or disclosures
-determining which entity-level controls would address these risks with sufficient precision
-determining which transaction-level controls would address these risks in the absence of precise entity-level controls
-determining the nature, extent, and timing of evidence gathered to complete the assessment of in-scope controls"
"“Any fool can know. The point is to understand.” - Einstein
http://en.wikipedia.org/wiki/SOX_404_top%E2%8...assessment
Excerpt:
"At each step, qualitative or quantitative risk factors are used to focus the scope of the SOX404 assessment effort and determine the evidence required. Key steps include:
-identifying significant financial reporting elements (accounts or disclosures)
-identifying material financial statement risks within these accounts or disclosures
-determining which entity-level controls would address these risks with sufficient precision
-determining which transaction-level controls would address these risks in the absence of precise entity-level controls
-determining the nature, extent, and timing of evidence gathered to complete the assessment of in-scope controls"
"“Any fool can know. The point is to understand.” - Einstein
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