29 July 2004

Sarbanes-Oxley Readiness...

Following are sample questions from the Sections 302 and 404 Readiness Assessment by Deloitte.

Has your company:

1. Adopted a formal implementation plan (including a timetable) to address the requirements of Sections 302 and 404 of Sarbanes-Oxley?

2. Established communication channels among management, the board of directors, and the audit committee to ensure a timely discussion of the status and issues related to Sections 302 and 404 of Sarbanes-Oxley?

3. Incorporated steps within its implementation plan to address all five elements (control environment, risk assessment, control activities, information and communication and monitoring) of the COSO internal control framework?

4. Established an enterprise-wide control and risk management program in which controls and procedures are documented and continually reevaluated in response to major process or organizational changes?

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