SOX 404 for Small, Publicly Held Companies is a guide to assist the management of small, publicly held companies in complying with the requirements of Section 404 of the Sarbanes-Oxley Act of 2002. This reference helps management with assessing the effectiveness of its company's internal control structure and procedures for financial reporting. In making the required internal control assessment, management may identify situations where internal controls can be improved in a cost-effective manner; this book will help management bring about these improvements.

SOX 404 for Small, Publicly Held Companies addresses everything necessary in order to perform an assessment of internal controls over financial reporting as well as an assessment of disclosure controls. Practice pointers and practical considerations are provided so that management can address the task of making its assessments thoroughly and efficiently. The book focuses on the Securities and Exchange Commission rules for an assessment of internal controls and looks carefully at the requirement of the Public Company Accounting Oversight Board for independent auditors.

Checklists, questionnaires and other practice aids for small and very small public companies are provided through the book and on the accompanying CD-ROM. In addition to these adaptable workpapers, the CD includes authoritative guidance from the PCAOB and the SEC.

Topics and Contents

Overview of Requirements

Planning the Assessment

Mapping the Organization

Tentative Risk Assessments

Making Tentative Internal Control Assessments

Testing Internal Control Assessments

Completing the Assessment

Concluding and Reporting Management's Assessment