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1、1本科畢業(yè)論文（設(shè)計(jì)）外文翻譯外文作者CampbellDavidRCampbellMaryV原文：原文：GuidancefsmallerpubliccompaniesreptingoninternalcontrolsAnOverviewAssessmentoftheCOSOExposuredraftSincethepassageoftheSarbanesOxleyActof2002(SOX)therehasbeenanincreased

2、focusonthecontrolenvironmentoverfinancialrepting.SOXsection404requiresmanagementtoevaluateinternalcontrolsoverfinancialreptingreptontheireffectiveness.LargepubliccompanieshavebeenusingtheCommitteeofSponsingganizations(CO

3、SO)framewkissuedin1992toassesstheeffectivenessoftheircontrolshoweverduetoconcernsoverthecostcomplexityofcompaniesfsmallerpubliccompanies(SPC)thedeadlinefthesecompanies(nonacceleratedfilers)hasbeenextendedtofiscalyearsend

4、ingafterJuly2007.Additionaluncertaintyregardingthetimingapplicabilityofsection404toSPCssurfacedrecentlywhenanSECadvisypanelrecommendedexemptingasignificantproptionofthesecompaniesfromsection404compliancebaseduponmarketca

5、pitalization.WhilesomeSPCswillwaittoseewhatlegislationrequiresbefelookingatinternalcontrolsotherSPCsnotfprofitseducationalinstitutionsaremovingfwardevenwithoutlegislativerequirementscanuseadditionalguidance.Asaresultofth

6、eimplementationconcernsfSPCs，theappropriatenessofitsframewkCOSOissuedanexposuredraft(ED)inOctober2005intendedtoprovideimptantguidancetoSPCswhenassessingtheeffectivenessoftheirinternalcontrolsoverfinancialrepting.Analyzin

7、gresponsestotheEDrevealsaconcernthatoneofthemostsignificantissuesfacingsection404compliancebySPCscosteffectiveimplementationhadnotbeenaddressedthattheEDlackedspecific3especiallyimptantbecauseacceleratedfilersmostofwhomon

8、lyrecentlyadoptedariskbasedapproachhavefoundthistobeaneffectivewayofreducingcostsensuringvaluedeliveredfeachdollarspent.WhilemostrespondentsagreedthattheEDaddressedkeyissuesaddedvalueinmanyareasofSOXimplementationvarious

9、stakeholdersraisedsignificantissues.ThevastmajityofrespondentsseriouslyquestionedtheabilityofSPCstoachievesubstantialcostreductionthroughtheguidanceprovided.Theystatedthatthedelicatebalancebetweenfmalinfmalcontrolsexisti

10、nginSPCswasnotadequatelyrecognizedthatmanyoftheexamplesprovidedwerenotrealisticfmostsmallmediumsizedSPCs.Suggestedsolutionstoimprovetheoverallguidancefromasmallbusinessperspectiveincludedthefollowing:?DefiningSPCsinanint

11、ernalcontrolcontextbasedonafactsuchasmarketcapitalization?Providingguidanceonmeasuringtheeffectivenessofthe“toneatthetop“ofSPCs?Focusingonthedevelopmentofatopdownapproachtointernalcontrolsthatwouldprovideanillustratedpro

12、jectplanftheevaluationdocumentationofinternalcontrolsfSPCs?Focusingonrisksuniquetosmallcompanieshowprofessionaljudgmentmustbeappliedtoindividualcompanycircumstanceswhendesigninginternalcontrols(e.g.specificchallengesrela

13、tedtosegregationofdutiesfinancialreptingexpertiseindependenceofboardmembersriskofmanagementoverride)?ExpingtheemphasisontheuniqueITrisksfacingSPCs.ThislastitemtheuniqueITissuesfacedbySPCswasraisedbymanyrespondents.Concer

14、nsincludedtheinabilitytoseparateITcontrolswithinmanySPCenvironmentstheuseofstardizedsoftwarepackagesbymanySPCswithalackofdocumentationfmodificationstheneedfITinvolvementintheSOXprocessintheplanningstagesftestingcontrolso

15、verfinancialreptingtheoveralllackofITexpertisewithinmanySPCs.Amongrespondents’suggestedsolutionsweretheinclusionofincreasedguidanceonthedevelopmentofappropriatecriteriafassessingITinanSPCenvironmenttheinclusiononSPCboard

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