SOX 404 ignores op risks, says IIA
REGULATORY UPDATE
Richards says senior management should be asked to respond to operational controls in addition to financial controls that they are currently required to attest to. He says that while Section 404 of the Sarbanes-Oxley Act addresses financial control risks, the real issue is operational risk and operational controls, which are not addressed by 404.
"Legislation must address op risk controls as part of the overall risk assessment, and ask management to respond not only to financial controls but
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