The crux of the SEC’s interpretive guidance for management is a top-down, risk-based approach that puts risk first and foremost. Four key areas of opportunity can be used to reduce an organization’s ...

financial reports while reducing audit costs, especially for smaller public companies. According to the SEC Web site, the commission expects Standard No. 5, in combination with the commission’s new ...

MANAGEMENT IS RESPONSIBLE FOR EVALUATING and reporting on a company’s controls. The external auditors are responsible for auditing management’s assertion and independently coming to their own ...