PCAOB issues internal control standards ED.PCAOB PCAOB Public Company Accounting Oversight Board Issues Internal Control Standards ED At a public board meeting on October. 7, PCAOB approved for Exposure Draft (ED) a proposed standard, An Audit of Internal Control Over Financial Reporting Performed in Conjunction with an Audit of Financial Statements. (Read the complete document at www.pcaobus.org/rules/Release2003-017.pdf.) If adopted, the proposed standard would be the standard on attestation The act of attending the execution of a document and bearing witness to its authenticity, by signing one's name to it to affirm that it is genuine. The certification by a custodian of records that a copy of an original document is a true copy that is demonstrated by his or her engagements in compliance with Section 404(b), as well as Section 103(a)(2)(A) of the Sarbanes-Oxley Act See SOX. of 2002. The ED will be posted for a 45-day comment period that ends November 21. The PCAOB is seeking comments from interested parties on 31 questions related to the proposed standard; comments should be sent in writing to the board. FEI's Web site continually con·tin·u·al adj. 1. Recurring regularly or frequently: the continual need to pay the mortgage. 2. updates and analyzes aspects of the provisions. See the headlines section of www.fei.org and also www.fei.org/advocacy/sarbanesoxley.cfm. |
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