SEC Approves Interpretive Guidance Regarding Management's Evaluation of Internal Controls - Part 2
Jane Storero - Blank Rome LLP
July 5, 2007
On May 23, 2007, the Securities and Exchange Commission approved interpretive guidance to assist management in planning and performing its annual assessment of internal control over financial reporting required by Section 404 of the Sarbanes-Oxley Act of 2002. This interpretive guidance is intended to serve as one way for management to evaluate ICFR, and sets forth the approach by which management can conduct a top-down risk based evaluation over ICFR.
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