Guide to Internal Controls

The Guide to Internal Controls under Section 404 of the Sarbanes-Oxley Act examines the mandate of Section 404 effective November 2004 for most companies. The SEC rules implementing the statute require the management of public companies to assess the effectiveness of the company's internal controls over financial reporting and the company's auditor to report on and attest to management's assessment of the internal controls. The guide also examines the rules of the Public Company Accounting Oversight Board on this auditor attestation. In addition, best practices relating to internal controls are examined.