SOX Guidance Has Helped Decrease Compliance Burden


Thanks to SOX section 404 rules and guidance issued by the PCAOB and the SEC in May 2007, many internal audit committees are finding time for other responsibilities.

According to Moving Internal Audit Back into Balance, a Protiviti survey of 321 internal audit professionals, four in 10 internal audit departments decreased the time devoted to SOX compliance since the new standard and guidance were announced.

As a result, these departments have resumed more traditional internal audit responsibilities, including regulatory compliance and advising senior management and the board’s audit committee.

Source: Protiviti, www.protiviti.com/go/rebalancing3.

FEATURE

Tackling TCJA changes this tax season

Return preparers must be ready for how the Tax Cuts and Jobs Act has modified many common features of individual and business returns.

PODCAST

Why CPAs can’t wait on automation tools

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.