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Sample Management Report Where Material Weaknesses Are Identified for Internal Control of U.S. Listed Companies

朱暮 译
 

Example B-2: Sample Management Report Where Material Weaknesses Are Identified

Management of the company is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934. The company’s internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. [The company’s internal control over financial reporting includes those policies and procedures that:

(i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company;
(ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and
(iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the company’s assets that could have a material effect on the financial statements.]

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A material weakness is a significant deficiency (within the meaning of PCAOB Auditing Standard No. 2), or combination of significant deficiencies, that results in there being more than a remote likelihood that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis by employees in the normal course of their assigned functions.

Management of the company assessed the effectiveness of the company’s internal control over financial reporting as of [specify fiscal year-end]. Management’s assessment identified the following material weakness[es] in the company’s internal control over financial reporting.
[Describe each material weakness and, as appropriate in the report or by cross-reference to another section of the annual report, remedial measures]

In making its assessment of internal control over financial reporting, management used the criteria issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control-Integrated Framework. Because of the material weakness[es] described above, management believes that, as of [specify fiscal year-end], the company did not maintain effective internal control over financial reporting based on those criteria.

The company’s independent auditors have issued an attestation report on management’s assessment of the company's internal control over financial reporting. That report appears [specify location]. 

    公司的管理层负责制定并维护《1934年证券交易法》项下第13a-15(f)及第 15d-15(f)规则中定义的充分的财务报告内部控制。公司的财务报告内部控制旨在根据普遍公认会计准则为外部使用目的就财务报告的可靠性和财务报表的编制提供合理保证。[公司的财务报告内部控制包括以下相关的政策和程序:
  
  (1) 保持以合理的细节准确、公允地反映该公司资产的交易和处置的记录;
  (2)合理保证为根据普遍公认会计准则编制财务报表对交易进行必要的记录且该公司收入和支出的进行只能根据管理层和董事会的授权方可发生;及
   (3)就防止或及时监测可能对财务报表有重大影响的公司资产的擅自收购、使用或处置提供合理保证。]
 
  由于任何财务报告内部控制均具有内在局限性,存在无法防止或发现错误陈述的可能性。此外,对未来内部控制有效性的评价进行推测具有一定风险,因为条件的变化使控制可能变得不够充分,对控制政策或程序的遵循程度也可能恶化。

  管理层对截至[插入特定的财政年度年末]的财务报告内部控制有效性进行了评估。评估时,管理层采用了COSO委员会在《内部控制—总体框架》中所列的标准。
 
  根据我们的评估及该类标准,管理层认为,截至[插入特定的财政年度年末],公司维持了有效的财务报告内部控制。
  
  公司的独立审计师已对公司财务报告内部控制管理层评估签发了鉴证报告。该报告置于[插入位置]。

本文选自张路、朱暮编译的《美国最新证券立法与上市公司内部控制实务》(法律出版社出版),版权归作者和相关版权人所有,未经许可,不得转载。

Management of the company is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934. The company’s internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. [The company’s internal control over financial reporting includes those policies and procedures that:

(i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company;
(ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and
(iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the company’s assets that could have a material effect on the financial statements.]

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A material weakness is a significant deficiency (within the meaning of PCAOB Auditing Standard No. 2), or combination of significant deficiencies, that results in there being more than a remote likelihood that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis by employees in the normal course of their assigned functions.

Management of the company assessed the effectiveness of the company’s internal control over financial reporting as of [specify fiscal year-end]. Management’s assessment identified the following material weakness[es] in the company’s internal control over financial reporting.
[Describe each material weakness and, as appropriate in the report or by cross-reference to another section of the annual report, remedial measures]

In making its assessment of internal control over financial reporting, management used the criteria issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control-Integrated Framework. Because of the material weakness[es] described above, management believes that, as of [specify fiscal year-end], the company did not maintain effective internal control over financial reporting based on those criteria.

The company’s independent auditors have issued an attestation report on management’s assessment of the company's internal control over financial reporting. That report appears [specify location]. 

    公司的管理层负责制定并维护《1934年证券交易法》项下第13a-15(f)及第 15d-15(f)规则中定义的充分的财务报告内部控制。公司的财务报告内部控制旨在根据普遍公认会计准则为外部使用目的就财务报告的可靠性和财务报表的编制提供合理保证。[公司的财务报告内部控制包括以下相关的政策和程序:
  
  (1) 保持以合理的细节准确、公允地反映该公司资产的交易和处置的记录;
  (2)合理保证为根据普遍公认会计准则编制财务报表对交易进行必要的记录且该公司收入和支出的进行只能根据管理层和董事会的授权方可发生;及
   (3)就防止或及时监测可能对财务报表有重大影响的公司资产的擅自收购、使用或处置提供合理保证。]
 
  由于任何财务报告内部控制均具有内在局限性,存在无法防止或发现错误陈述的可能性。此外,对未来内部控制有效性的评价进行推测具有一定风险,因为条件的变化使控制可能变得不够充分,对控制政策或程序的遵循程度也可能恶化。

  管理层对截至[插入特定的财政年度年末]的财务报告内部控制有效性进行了评估。评估时,管理层采用了COSO委员会在《内部控制—总体框架》中所列的标准。
 
  根据我们的评估及该类标准,管理层认为,截至[插入特定的财政年度年末],公司维持了有效的财务报告内部控制。
  
  公司的独立审计师已对公司财务报告内部控制管理层评估签发了鉴证报告。该报告置于[插入位置]。

 

 

 

本文选自张路、朱暮编译的《美国最新证券立法与上市公司内部控制实务》(法律出版社出版),版权归作者和相关版权人所有,欢迎转载,但请注明来源。

 

如需要上述相关图书(《美国1933年证券法》(中英文对照版本)、《美国1934年证券交易法》(中英文对照版本)、《美国最新上市公司最新立法与内部控制实务》(中英文对照版本)),请联系book@elloi.com,或电话:010-65678598。


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