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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,
2009 if not an accelerated filer,
basically
market capitalization under $75
million).
ENSURING YOUR COMPLIANCE. Parent,
McLaughlin and 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
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