IMPACT OF SOX SECTION 404 ON THE BIO/PHARM INDUSTRY
Adverse Section 404 Reports
For Companies with Years Ended in 2006
As of July 6, 2007
The following is a copy of the twelve adverse reports that were issued from companies in the Bio/Pharm industry with years ended in 2006. These were all of the accelerated filers in the Bio/Pharm industry with adverse Sarbanes-Oxley Section 404 management self assessments. This information was gathered using the online research tool called Audit Analytics an Ives Group, Inc company.
The following is a summary of the material internal control weaknesses reported in the twelve adverse SOX Section 404 Self Assessments:
The following is a summary of the material accounting weaknesses reported in the twelve adverse Section 404 Self Assessments. SOX Section 404 is not just about internal control issues, but also about misapplication of financial accounting and reporting issues:
