SOX 2012: Where we stand and what is on the horizon
In the recent SOX & Internal Controls Update Conference in D.C., Deloitte Partner, Trina Huelsman, discussed past issues and emerging trends.
The percentage of adverse auditor attestation opinions has decreased every year since the inception of Sarbanes-Oxley. The top 10 causes of adverse opinions related to internal controls are accounting personnel/competence/training followed by segregation of duties, year end adjustments, ineffective audit committees, inadequate disclosure controls, non routine transactional control issues, IT software, untimely reconciliations, restatements and IA inadequacies.
Ms. Huelsman also covered key principles to optimize the control structure by detailing the elements of a sustained compliance program: program management and governance, people considerations, top down controls, reducing redundancy, efficient monitoring approach and enabling technologies.
We’ll offer an updated agenda at the 2012 SOX & Internal Controls & Update in San Jose in May 2011 and October in D.C.
Click here for the agenda, list of speakers and registration info:
https://acslive.com/events/sox_2012.html
to see the latest developments around SEC Initiatives under Dodd-Frank: http://www.sec.gov/