Publication
Corporate Communicator – A Reminder of the Importance of Internal Controls Under SOX
Letter from the Editor
Dear clients and friends,
In this issue of the Corporate Communicator we bring you a short article about a recent SEC enforcement action against two public company executives and their failure to maintain and evaluate internal controls.
Very truly yours,
Snell & Wilmer
Corporate and Securities Group
A Reminder of the Importance of Internal Controls Under SOX
by Ahron D. Cohen
On July 30, 2014, the SEC announced charges against the CEO and the former CFO of a computer equipment company based in Florida for misrepresenting the state of the Company’s internal controls over financial reporting and failure to disclose to its auditors deficiencies in its internal controls. The SEC’s action is a strong reminder to public companies of the importance of maintaining adequate internal controls as required by the Sarbanes-Oxley Act of 2002 (SOX).
About Snell & Wilmer
Founded in 1938, Snell & Wilmer is a full-service business law firm with more than 500 attorneys practicing in 16 locations throughout the United States and in Mexico, including Los Angeles, Orange County and San Diego, California; Phoenix and Tucson, Arizona; Denver, Colorado; Washington, D.C.; Boise, Idaho; Las Vegas and Reno, Nevada; Albuquerque, New Mexico; Portland, Oregon; Dallas, Texas; Salt Lake City, Utah; Seattle, Washington; and Los Cabos, Mexico. The firm represents clients ranging from large, publicly traded corporations to small businesses, individuals and entrepreneurs. For more information, visit swlaw.com.