[Infographic] Audit scrutiny: it's time to face the facts
Dear SOX, internal controls, and internal audit teams:
We aren't trending in the direction we should be.
Increased scrutiny means it is more important than ever for companies to take a look at how they are going to improve their internal controls process.
The PCAOB stated, "Improving the quality of financial reporting can reduce investors' uncertainty about the information being provided in company financial statements, foster increased public confidence in the financial markets, and enhance capital formation and the efficiency of capital allocation decisions."
Audit scrutiny, failures, and fees are on the rise and this is hurting your investor confidence. It's time to face the facts and take a closer look.
Check the infographic below to see 7 facts about what increased audit scrutiny means for you.