ICFR (Internal Control Over Financial Reporting)

What is Internal Control Over Financial Reporting (ICFR)?

Internal control over financial reporting, or commonly referred to as ICFR, is designed to protect and enhance the accuracy and transparency of financial reporting data by public companies. This is prevalent in the Sarbanes-Oxley (SOX) Act, which requires public companies to follow very specific requirements around ICFR to be in compliance with SOX.  For support and additional information, explore our automated SOX compliance solution.