If there were ever a time in the Sarbanes-Oxley era for companies to take the bull by the horns, now would be it.
For the largest public companies, the first reporting cycle under new rules for internal control over financial reporting may be months away. But audit experts say now is the time for companies to take the initiative on Auditing Standard No. 5, the new audit standard governing the SOX-required internal control audit, to assure the best implementation possible.
