New! IIA Bookstore Release: Management’s Guide to Sarbanes-Oxley Section 404, 4th Edition
The U.S. Sarbanes-Oxley Act of 2002 was intended to protect investors from the possibility of fraudulent accounting activities by corporations in the wake of monumental, widespread scandals such as those committed by Enron, Tyco, and WorldCom. In particular, Section 404 of the Act mandates that all publicly traded companies must establish internal controls and procedures for financial reporting and must document, test, and maintain those controls.
Numerous books have been written about how the legislation should be implemented, and Norman Marks, CPA, CRMA, has contributed his share to the conversation. Marks recently updated his earlier book on the implementation of SOX in a new book titled Management’s Guide to Sarbanes-Oxley Section 404, 4th Edition.
Much has happened since Marks wrote the 3rd edition, published in 2013. Entities such as the U.S. Securities and Exchange Commission (SEC), Public Company Accounting Oversight Board (PCAOB), and The IIA have weighed in on the topic with new insights and guidelines, which Marks has taken into account in this new edition.
Directed toward CEOs and CFOs who must sign off on required internal control-related reports, Marks updated the guide for management from the perspective of an experienced internal auditor who has worked with boards of directors and executive management.
The updated guide includes comments and explanations of new information, such as Staff Alert No. 11, and a new section has been added on the key topic of management review controls and the impact of PCAOB examinations. Additionally, a chapter has been added on cases prosecuted under Sarbanes-Oxley, proving that willful ignorance can have definite and dire consequences.
Another new addition to this update is a helpful checklist that aids management teams in completing a self-assessment to ensure their Sarbanes-Oxley program is efficient and effective.
Award-winning author Norman Marks has written four other books on topics such as risk management; auditing; governance, risk management, and compliance (GRC), and more, and is a prolific blogger and frequent speaker.
The book is being published by The IIA’s Internal Audit Foundation and is available from the IIA Bookstore.