Internal Control Strategies: A Mid to Small Business Guide [Hardcover]

Julie Harrer (Author)

Book Description

ISBN-10: 0470376198 | ISBN-13: 978-0470376195 | Publication Date: September 9, 2008 | Edition: 1

Praise for Internal Control Strategies A Mid to Small Business Guide

"Internal Control Strategies is an excellent field guide for the implementation and maintenance of efficient and effective internal control systems. The book provides a practical approach to interpreting guidance from oversight agencies and integrating it with industry practice in a real-world environment. This handbook is an essential tool for managers and professionals going through the day-to-day struggle of managing auditor expectations and permitting business to proceed in the most efficient manner."
-Michael Rodriguez, former senior manager of finance, Qualcomm Incorporated

"Internal Control Strategies is the clearest path forward for middle-market SEC registrants and their independent registered public accounting firms as they streamline the SOX 404 compliance process in 2008 and beyond."
-Stephen G. Austin, MBA, CPA, Managing Firm Partner,Swenson Advisors, LLP, Regional PCAOB Accounting Firm

"Clearly written and practical, Internal Control Strategies is a must-read for every chief audit, finance, or compliance executive."
-Jeff Miller, Partner-in-Charge, Business Risk Services,Squar, Milner, Peterson, Miranda & Williamson, LLP

"As a CFO of small to mid-sized publicly traded and privately held companies, one is usually faced with the challenge of developing and implementing the right levels of internal controls and compliance within the restrictions of limited financial and human resources. Internal Control Strategies presents the relevant topics in a clear and concise manner, allowing the reader to understand the internal control framework and specific underlying requirements quickly. The author's vast experience with SOX compliance ensures a targeted and pragmatic approach for the successful implementation of internal controls. Her recommendations are 'to the point' and eliminate some of the guesswork we all have experienced while working towards SOX compliance."

-Robert S. Stefanovich, Chief Financial Officer, Novalar Pharmaceuticals, Inc.

The SEC requires all publicly traded companies to attest to theeffectiveness of their internal controls.

Is your business ready?

Internal Control Strategies: A Mid to Small Business Guide clearly explains the latest PCAOB, SEC, and COSO guidance, providing you with an effective tool and reference guide for successful implementation of sections 302 and 404 of the Sarbanes-Oxley Act.

Extremely knowledgeable and insightful, author Julie Harrer brings practical clarity to this complex topic, leading you step by step in addressing the challenges associated in bringing your business in compliance with SOX.

Editorial Reviews

From the Inside Flap

Internal Control Strategies
A Mid to Small Business Guide

As of December 2007, the SEC required all publicly traded companies to attest to the effectiveness of their internal controls in accordance with sections 302 and 404 of the Sarbanes-Oxley Act. Already a requirement for accelerated filers, an external auditors' report on internal control will soon be required for non-accelerated filers. While many larger companies spent millions of dollars implementing internal control programs, smaller budget-conscious companies may still be struggling with their compliance programs without the option of expensive advisors and systems. Internal Control Strategies: A Mid to Small Business Guide provides smaller, publicly traded companies with clear guidance on creating strong but streamlined internal control programs.

Designed to be a resource of truly practical ideas for controllers, business managers, and auditors to cut costs and reduce time, this timely book expertly reveals how both accelerated and non-accelerated filers can implement effective internal controls and covers:

• The SEC's guidance for management

• The PCAOB's guidance on implementing auditing standard No. 5

• Using entity-level controls to create efficiencies

• Minimizing excess costs through proper scoping practices

• Advantageous project management techniques

• Streamlining documentation

• Economical testing tips

• Successful methods for remediation

• Simplified tools for evaluating deficiencies

• Common areas of concern and how to address them

With discussion of the latest PCAOB, SEC, and COSO guidance in nontechnical, easy-to-understand language, Internal Control Strategies: A Mid to Small Business Guide provides auditing professionals with useful advice and distinct practice tips for each phase of sections 302 and 404 compliance. This hands-on guide is a must-read for every business serious about identifying and understanding operational threats and monitoring the health of their internal control structure.

From the Back Cover

Praise for Internal Control Strategies A Mid to Small Business Guide

"Internal Control Strategies is an excellent field guide for the implementation and maintenance of efficient and effective internal control systems. The book provides a practical approach to interpreting guidance from oversight agencies and integrating it with industry practice in a real-world environment. This handbook is an essential tool for managers and professionals going through the day-to-day struggle of managing auditor expectations and permitting business to proceed in the most efficient manner."
???Michael Rodriguez, former senior manager of finance, Qualcomm Incorporated

"Internal Control Strategies is the clearest path forward for middle-market SEC registrants and their independent registered public accounting firms as they streamline the SOX 404 compliance process in 2008 and beyond."
???Stephen G. Austin, MBA, CPA, Managing Firm Partner,Swenson Advisors, LLP, Regional PCAOB Accounting Firm

"Clearly written and practical, Internal Control Strategies is a must-read for every chief audit, finance, or compliance executive."
???Jeff Miller, Partner-in-Charge, Business Risk Services, Squar, Milner, Peterson, Miranda & Williamson, LLP

"As a CFO of small to mid-sized publicly traded and privately held companies, one is usually faced with the challenge of developing and implementing the right levels of internal controls and compliance within the restrictions of limited financial and human resources. Internal Control Strategies presents the relevant topics in a clear and concise manner, allowing the reader to understand the internal control framework and specific underlying requirements quickly. The author's vast experience with SOX compliance ensures a targeted and pragmatic approach for the successful implementation of internal controls. Her recommendations are 'to the point' and eliminate some of the guesswork we all have experienced while working towards SOX compliance."

???Robert S. Stefanovich, Chief Financial Officer, Novalar Pharmaceuticals, Inc.

The SEC requires all publicly traded companies to attest to the effectiveness of their internal controls.

Is your business ready?

Internal Control Strategies: A Mid to Small Business Guide clearly explains the latest PCAOB, SEC, and COSO guidance, providing you with an effective tool and reference guide for successful implementation of sections 302 and 404 of the Sarbanes-Oxley Act.

Extremely knowledgeable and insightful, author Julie Harrer brings practical clarity to this complex topic, leading you step by step in addressing the challenges associated in bringing your business in compliance with SOX.

See all Editorial Reviews

Product Details

• Hardcover: 308 pages
• Publisher: Wiley; 1 edition (September 9, 2008)
• Language: English
• ISBN-10: 0470376198
• ISBN-13: 978-0470376195
• Product Dimensions: 9.1 x 6.2 x 1.1 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #796,751 in Books (See Top 100 in Books)

More About the Author

Having a flair for excelling in difficult times was the key to Ms. Harrer's success as the project manager for Qualcomm's Section 404 project; Qualcomm was the first company in the world to comply with Section 404 of the Sarbanes-Oxley Act. She has since managed several other Section 404 projects, both as an external auditor and working with management. The broad compliance and process improvement experience and the focus on efficiencies and best practices were the basis for her recent book, "Internal Control Strategies."

Prior to her Sarbanes-Oxley experience Ms. Harrer worked as a Vice President of Finance and Controller for various companies in San Diego in the high-tech, manufacturing and life science industries. In addition to this, her years in public accounting provided the technical background she uses to succeed in the financial arena.

Ms. Harrer is a Certified Public Accountant in the state of California and graduated from San Diego State University with a Bachelors of Science degree in Business Administration and Accounting. She is currently the President of Hamlet Auditing and Consulting Corp. and lives in Solana Beach with her two Australian Shepards and two cats. Please visit her website at www.hamletauditing.com

Customer Reviews

Most Helpful Customer Reviews

4 of 4 people found the following review helpful:

5.0 out of 5 stars Most practical guide i've read, December 1, 2008

By 

G. Gustafson "dogbeachdude" (Solana Beach, CA USA) - See all my reviews
(REAL NAME)   

This review is from: Internal Control Strategies: A Mid to Small Business Guide (Hardcover)

I bought this book to help my small business prepare for an audit. I've read several other accounting and compliance books and found most of them to be too general and theoretical in nature for my needs. This book was a happy surprise. It is full of practical advice without the fluff. Although very technical, it is quite readable and useful for either auditors, consultants, project managers, testers, and even executives who just want to understand more. With its practical advice and cookbook simplicity, this book has saved my company significant time and money by helping us complete 404 compliance (Sarbanes-Oxley) in less time we budgeted for. It is clear this book was written by someone who has actually gone through the process and politics of a complex compliance project. A must read for the "hands-on" folks out there. I highly recommend it.