You don’t want to travel to an unfamiliar destination without a map. The same holds true for companies navigating the road to Sarbanes-Oxley Section 404 compliance.

Many companies have reaped significant benefits by following the new guidance from the Securities and Exchange Commission (SEC), as well as the revised auditing standard from the Public Company Accounting Oversight Board (PCAOB). This new guidance is principles-based, which allows companies the flexibility to further navigate and appropriately scope their approach to compliance.

By getting a handle on their internal controls, companies can reduce the risk of making material misstatements in financial reports and minimize the possibility of fraud. And by anticipating what can go wrong, global companies and small companies alike can bolster their efficiency while safeguarding the interests of investors.

Highlights:

• Why did the SEC issue additional guidance around Section 404, and basically what does the guidance say? (1:45)
• How well do companies understand the new guidance, and how well are they implementing its recommendations? (8:00)
• How does a company decide which controls should be implemented, and how do they decide which ones take precedence? (23:44)
• What lessons can smaller reporting companies learn from large accelerated filers? (29:46)

Guests: 
Nick Tommasino, chairman and chief executive officer, Deloitte & Touche LLP
Steve Wagner, managing partner, U.S. Center for Corporate Governance, Deloitte & Touche LLP

Related Content:
White Paper: SOX Optimization: Improving Compliance Efficiency & Effectiveness
Transcript: Leveraging the New Sarbanes-Oxley 404 Guidance
Resources: Sarbanes-Oxley
Podcast: The Unexpected Benefits of SOX: A Conversation with Michael Oxley 

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