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Corporate Communicator - A Reminder of the Importance of Internal Controls Under SOX

09/19/2014

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).

[Read the full newsletter.]