The Report
The changes that were brought about to internal control reporting by the Sarbanes-Oxley Act and the Turnbull guidance provide a real opportunity to look at the implications of these requirements and the process of policy development.
This report reviews the two different approaches to internal control reporting in the US and UK, both in terms of definition and regulatory approach, before contrasting the responses of respondents to the Sarbanes-Oxley section 404 consultation and the Turnbull review consultation in 2004/5. These contrasting views provide a novel insight into the role of consultation in regulatory change in two important regimes.
The report also demonstrates that, despite the perception of an ‘Anglo-American’ approach to corporate governance, there are distinct differences in approach to internal control reporting in the UK and US.
The report highlights significant issues for further research including: the impact of internal control reporting on organisations and audit committees; the implications for international convergence of different definitions of internal control; a cost comparison between a principles-based and a rules-based system for internal control disclosure; and the impact of disclosure requirements on the risk appetite of boards.
ISBN 978-1-904574-31-6
Price £15.00
This report can be ordered in hard copy or downloaded in PDF format. There is also an Executive Summary to give a brief overview of the report.
To access the order form, please click on the link below
Order Form
To view the Executive Summary, please click on the link below
Executive Summary
To view the whole report, please click on the link below
Full Research Report
|
