Thursday, December 09, 2004

'Continuous' Will Be Key to Compliance

Can continuous auditing help bring companies into compliance with Sarbanes-Oxley and other regulations -- and can it do so more effectively and efficiently than alternative approaches to corporate governance? Although this question may be slightly ahead of its time, early adopters of the "continuous" concept are nodding their heads in response to it.

Coined by an academic more than 20 years ago, the term "continuous auditing" describes a broad range of approaches to both internal and external audit that enable companies to stay on top of their controls.

Paul Herring, director of business reporting, assurance and advisory services for the American Institute of Certified Public Accountants (AICPA) in New York City, sees audit options on a continuum. The traditional annual audit resides at one end of that line, while the opposite end is occupied by companies that maintain a perpetual connection with their external auditor. Herring emphasizes that a wide array of possibilities exist between those two extremes.

"Continuous" Will Be Key to Compliance

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Tech companies struggle with Sarbanes-Oxley

Court Defies SEC, Upholds Limitations on Expiring Fraud Claims

SEC open to delisting for UK companies

GTP and Relational Security Partner to Streamline Third-Party Security Audits Required Under Such Regulations as SOX and GLB

Small Companies Get a Break on Sarbox Compliance

Ex-SEC chief lauds reforms

Improving accountability - boardroom inspection

Watchdog to hire 100 enforcers

Accounting Firm Trades In SEC Practice for Governance Practice

SEC May Delay Reviews (washingtonpost.com)

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