Newsroom
From "How Small Companies Can Use AS5,
By Tammy Whitehouse, Compliance Week (Subscription reqiured for full article)
September 18, 2007
Compliance Week reports, "The clock is ticking for smaller companies that are facing their first-ever Sarbanes-Oxley assessment on internal control over financial reporting, yet experts say many are still banking on another deferral rather than acting now to use the tools at their disposal." CAQ Executive Director Cindy Fornelli told the publication, "If [smaller companies] are not doing the internal control work, it creates a self-fulfilling prophecy...It puts pressure on the audit firms, puts pressure on the system, and puts us back where we were with [Auditing Standard No. 2]."
