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SAS 112 and Internal Control

Are private-company CFOs finding that their auditors are using SAS 112 to force companies to formally document their internal control procedures?

[Editor’s Note: For more information on SAS 112, see the link below for an AICPA article summarizing the standard’s major underlying concepts. http://www.aicpa.org/Professional+Resources/Accounting+and+Auditing/Audit+and+Attest+Standards/Practice+Aids+and+Tools/Understanding+SAS+No+112.htm]

Response:

We have not found that to be the case at our company. We use a regional firm with a 100-staff office in the area.

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