Framework for evaluating internal control deficiencies
02 Nov 2004
Nine large accounting firms, including Deloitte, have jointly issued A Framework for Evaluating Process/Transaction-Level Exceptions and Deficiencies for use in implementing Section 404 of the Sarbanes-Oxley Act.
While the framework is not endorsed by the Public Company Accounting Oversight Board (PCAOB), and it should be read in conjunction with PCAOB Auditing Standard No. 2 on internal control audits, companies may find it a useful reference as they implement the requirements of Section 404. Click to Download the Framework (PDF 80k).