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ICFR: Sunlight through the Clouds

Tuesday, June 14, 2016

While effective internal control over financial reporting (ICFR) is a keystone of investor confidence, writes the CAQ’s Fornelli in a June 2016 LinkedIn Influencer commentary, challenges related to ICFR are “both shifting and persistent.” 

The good news, in Fornelli’s view, is that stakeholders from across the financial reporting supply chain have elevated the debate and dialogue around ICFR to new heights. “Through this interaction,” she says, “they are taking control of internal control—identifying ways to enhance our approach to this critical safeguard for investors.”

The post, also published in the second quarter edition of Ethisphere magazine, discusses specifics of this improved stakeholder interaction, including enhanced communication, recognition of the proper use of checklists, and leveraging the audit committee’s vital role as a hub in the financial reporting process. 

Read the full post on LinkedIn: