Deloitte

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Deloitte Touche / Federation of Schools of
AccountancyFACULTY CONSORTIUM

• Forensic Accounting and Corporate Governance

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Bill Platt
Corporate Governance, A Renewed Focus on
Internal Control

• Deputy National Director of Accounting Services

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Overview Internal / Disclosure Controls
Section 302(a)4-6
Disclosure Controls and Procedures Internal
Control Financial Reporting
Definition
CEO/CFO certifies Established and maintained
DCP Effective design- material
information Evaluated effectiveness Disclosed
any fraud and deficiencies to auditors and audit
committees Disclosed changes and any corrective
action
Requirement
Current - Periodic evaluation- within 90 days
prior to filing date Proposed As of the end of
the period
Timing
All Public Cos.- except asset-backed
Applicability
DCP - Periods ending after 8/29/02Internal
Control FR Simultaneous with first 404 report
Transition
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Internal Control Financial Reporting
Financial Reporting Controls
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Internal Control
Authorization of Transactions
Safeguarding of Assets

Financial Reporting
Accounting Records
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Internal Control

Financial Reporting
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Disclosure Controls Procedures

• SEC Final Rule
• Controls and other procedures to ensure that
  information required to be disclosed in reports
  under the Act is recorded, processed, summarized
  and reported, within the time periods specified
  in the Commissions rules and forms.
• Includes controls and procedures designed to
  ensure that information required to be disclosed
  is accumulated and communicated to management
  (including principal executive and financial
  officers) to allow timely decisions regarding
  required disclosure.

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Internal Control
Financial Reporting Controls
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Internal Control
FCPA / Attest



Financial Reporting
Laws and Regulations
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Missing Link
Governance
Control Activities
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COSO Framework
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Deloitte Touche / Federation of Schools of
AccountancyFACULTY CONSORTIUM

• Forensic Accounting and Corporate Governance