SEC Call for 'Comprehensive' Risk Assessments

Posted 8/29/23

In a statement released August, Paul Munter, Chief Accountant of the SEC stated the Commission's opinion that the corporate community's risk assessment is inadequate and too narrowly focused.

"We are troubled by instances in which management and auditors appear too narrowly focused on information and risks that directly impact financial reporting, while disregarding broader, entity-level issues that may also impact financial reporting and internal controls," Munter writes.

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