§ 7262. Management assessment of internal controls
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(a)Rules required The Commission shall prescribe rules requiring each annual report required by section 78m(a) or 78o(d) of this title to contain an internal control report, which shall—
(1)state the responsibility of management for establishing and maintaining an adequate internal control structure and procedures for financial reporting; and
(2)contain an assessment, as of the end of the most recent fiscal year of the issuer, of the effectiveness of the internal control structure and procedures of the issuer for financial reporting.
(b)Internal control evaluation and reporting With respect to the internal control assessment required by subsection (a), each registered public accounting firm that prepares or issues the audit report for the issuer, other than an issuer that is an emerging growth company (as defined in section 78c of this title), shall attest to, and report on, the assessment made by the management of the issuer. An attestation made under this subsection shall be made in accordance with standards for attestation engagements issued or adopted by the Board. Any such attestation shall not be the subject of a separate engagement.
(c)Exemption for smaller issuers Subsection
(b)shall not apply with respect to any audit report prepared for an issuer that is neither a “large accelerated filer” nor an “accelerated filer” as those terms are defined in Rule 12b–2 of the Commission (17 C.F.R. 240.12b–2).
(Pub. L. 107–204, title IV, § 404, July 30, 2002, 116 Stat. 789; Pub. L. 111–203, title IX, § 989G(a), July 21, 2010, 124 Stat. 1948; Pub. L. 112–106, title I, § 103, Apr. 5, 2012, 126 Stat. 310.)
Connections108 cite this · traces to 2
Cited by 108 sections · top 60
U.S. Code
statutes-at-large
- Public Law 112–106To increase American job creation and economic growth by improving access to the public capital markets for emerging growth companies
- Public Law 109–435To reform the postal laws of the United States
- Public Law 107–204To protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and for other purposes
- Public Law 114–328To authorize appropriations for fiscal year 2017 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes
- Public Law 111–203To promote the financial stability of the United States by improving accountability and transparency in the financial system, to end “too big to fail”, to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes
- Public Law 110–69To invest in innovation through research and development, and to improve the competitiveness of the United States
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bill
- Sec. 2Consideration by the Securities and Exchange Commission of the costs and benefits of its regulations and certain other agency actions
- Sec. 2Consideration by the Securities and Exchange Commission of the costs and benefits of its regulations and certain other agency actions
- Sec. 6Community bank exemption from annual management assessment of internal controls requirement of the Sarbanes-Oxley Act of 2002
- Sec. 2Community bank exemption from annual management assessment of internal controls requirement of the Sarbanes-Oxley Act of 2002
- Sec. 14005Community bank exemption from annual management assessment of internal controls requirement of the Sarbanes-Oxley Act of 2002
- Sec. 4Internal control attestation requirement exemptions
- Sec. 2Additional exemption from auditor attestation to internal control assessments
- Sec. 2Temporary exemption for low-revenue issuers
- Sec. 3Internal control attestation requirement exemptions
- Sec. 2Community bank exemption from annual management assessment of internal controls requirement of the Sarbanes-Oxley Act of 2002
- Sec. 2Temporary exemption for low-revenue issuers
Traces to 2 documents
9 references not yet in our index
- Pub. L. 107–204, title IV, § 404
- 116 Stat. 789
- Pub. L. 111–203, title IX, § 989G(a)
- 124 Stat. 1948
- Pub. L. 112–106, title I, § 103
- 126 Stat. 310
- Pub. L. 112–106
- Pub. L. 111–203
- section 4 of Pub. L. 111–203
Citation graph
cites case law
§ 7262
Management assessment of internal controls
Fed. Reg.×49
Bills×43
Stat.×7
Stat. Comp.×4
U.S.C.×3
C.F.R.×1
Pub. L.×1
Pub. L.Pub. L. 107–204, title IV, § 404
Stat.116 Stat. 789
Pub. L.Pub. L. 111–203, title IX, § 989G(a)
Stat.124 Stat. 1948
Pub. L.Pub. L. 112–106, title I, § 103
Cites 11 · showing 7Cited by 108 across 7 sources