Mike Feldman Quoted in Agenda
“What Audit Standard No. 5 Means for Boards”

Mike Feldman was quoted in the article, “What Audit Standard No. 5 Means for Boards,” published August 13, 2007 in Agenda. Auditing Standard 5 (AS5) is a new auditing standard adopted by the SEC to increase the accuracy of financial reports while reducing unnecessary costs. AS5 was proposed in response to numerous complaints about the high costs and inefficiencies associated with compliance with Section 404 of Sarbanes-Oxley.

Mike told the publication that AS5 allows auditors and audit committees to exercise some professional judgment on the scope of the audit and will eliminate the need to “slavishly follow a checklist.”