The PCAOB and external audit firms are more closely scrutinizing management review controls than ever before. Public companies need to ensure that they satisfy the documentation and evidence requirements of a SOX audit, which includes having management sufficiently assess the design and effectiveness of controls.
In this whitepaper, we provide public companies with some of the core elements of management review controls, including the following:
- A management review control checklist.
- Examples of poorly designed management review controls.
- An example of a thorough, efficient and effective management review procedure for account reconciliations.