15 USC 7262 - Management assessment of internal controls

U.S Code last checked for updates: Nov 22, 2024

§ 7262.

Management assessment of internal controls

(a)

Rules required

The Commission shall prescribe rules requiring each annual report required by section 78m(a) or 78o(d) of this title to contain an internal control report, which shall—

(1)

state the responsibility of management for establishing and maintaining an adequate internal control structure and procedures for financial reporting; and

(2)

contain an assessment, as of the end of the most recent fiscal year of the issuer, of the effectiveness of the internal control structure and procedures of the issuer for financial reporting.

(b)

Internal control evaluation and reporting

(c)

Exemption for smaller issuers

(Pub. L. 107–204, title IV, § 404, July 30, 2002, 116 Stat. 789; Pub. L. 111–203, title IX, § 989G(a), July 21, 2010, 124 Stat. 1948; Pub. L. 112–106, title I, § 103, Apr. 5, 2012, 126 Stat. 310.)

cite as: 15 USC 7262