Become Sarbanes-Oxley Compliant
New Corporate Standards
The Sarbanes-Oxley Act of 2002 (the "Act") was passed by Congress to improve corporate governance, financial reporting and the quality of audit services offered by public accounting firms.
Section 404 of the Act requires each annual report of an issuer to include an internal control report that:
(1) states the responsibility of management for establishing and maintaining an adequate internal control structure and procedures for financial reporting, and
(2) contains an assessment, as of the end of each issuer’s fiscal year, of the effectiveness of internal control structure and procedures of the issuer for financial reporting.
Section 404, as amended, is effective for fiscal years ending on or after November 15, 2004 (December 15, 2007 if not an accelerated filer, basically market capitalization under $75 million).
Ensuring Your Compliance
Parent, McLaughlin & Nangle has the skills and experience to assist your company in complying with Section 404 of the Act. We are accustomed to documenting and testing internal controls since two of our client service niches operate in highly regulated industries.
PMN is registered with the Public Company Accounting Oversight Board, established as part of the Sarbanes-Oxley Act of 2002, and is qualified to service publicly held companies. PMN is also a member of the American Institute of Certified Public Accountants Private Companies Practice Section.
Further Inquiries Contact:
Jim Kennedy, CPA
jkennedy@pmn.com
617.426.9440
