- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Academics say they have identified a link between internal control weaknesses and later revelations of fraud, lending fresh support to key provisions of SOX.
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Amid persistent cost and compliance challenges with internal controls, the pace of migration toward new accounting technologies appears to be picking up.
Auditors walk a fine line in reporting adverse internal controls, straddling regulators when they fail to flag weaknesses but punished in the market when they do.
Recent findings against PwC illuminate audit failures that the PCAOB has been harping on for years, although its ultimate weight on auditors' duty to find fraud is not yet clear.
