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14 Jun 2006
Thomas Ray, the Public Company Accounting Oversight Board's top auditor, has told a financial reporting conference that major opportunities for increased efficiency exist in the implementation of Sarbanes-Oxley.
He said efficiencies could be found in the auditor's evaluation of management's assessment process, and how the auditor's risk assessment is applied to the nature, timing and extent of the tests of controls.
Ray made these remarks while speaking at the 25th Annual Securities and Exchange Commission and Financial Reporting Institute Conference last week.
‘I believe it also is helpful to point out that the auditor's evaluation of management's process is most efficient when management has done a good job documenting both the design of the company's internal control and the assessment process and results,’ Ray said.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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