CCH principal analyst and leading author on securities law, Jim Hamilton, JD, LLM, has [1] released a white paper on the long-awaited Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB) issuances on internal controls over financial reporting under section 404 of the Sarbanes-Oxley Act.
CCH, a leading provider of securities law information, is part of Wolters Kluwer Law & Business.

Reporting on the adequacy of internal controls was a significant element of the corporate reforms embodied in the Sarbanes-Oxley legislation. Hamilton can explain and comment on the new regulations, including:

• Why regulators felt a new approach was necessary;
• The broad principles behind the guidance; and
• What the new issuances mean in practice for auditors.

“The issuances emphasize a ‘principles-based’ and risk-based approach,” said Hamilton. “This allows for greater discretion and judgment in assessing the effectiveness of the company’s internal control over financial reporting.”

[2] Yahoo!Finance: New CCH White Paper Covers SEC, PCAOB Internal Controls Guidance