Requirement (SOX)
Section 204: Auditor Reports to Audit Committees.
Requirements SOX
Description
Description
The accounting firm must report to the audit committee all "critical accounting policies and practices to be used; all alternative treatments of financial information within [GAAP] that have been discussed with management, ramifications of the use of such alternative disclosures and treatments, and the treatment preferred" by the firm.
Comment
Concerns: public accounting firms