CEO/CFO Certification Requirements

An on-going process at the forefront of compliance.

CFO/CEO certification requirements are often perceived as being costly and as having little value. However, their application is fast becoming the leading practice within listed companies, as well as private, soon to be public, not-for-profit and government organizations, because they have led to more reliable financial information and improved corporate governance.

Strict responsibilities have been imposed upon the management of listed companies who must accept responsibility for the design and operating effectiveness of disclosure controls and procedures, as well as internal controls over financial reporting. This includes evaluating and testing the controls, keeping adequate documentation, and for some, presenting a written assessment regarding the effectiveness of the company’s internal controls.

Realization of compliance projects

The Risk Management professionals at Richter follow a top-down and risk-based approach to ensure that the emphasis is placed on significant risks, thereby reducing compliance costs to their minimum at every stage of the process, including:

  • Executive education
  • Project management
  • Planning and risk assessment
  • Evaluating design of disclosure controls and procedures and internal controls over financial reporting
  • Evaluating effectiveness of disclosure controls and procedures, and internal controls over financial reporting
  • Analyzing and disclosing deficiencies found
  • Assisting in the remediation process
On-going monitoring

Once the documentation and initial assessment of internal controls have been done, the work does not stop there. Our professionals can also assist with:

  • Detailed testing of disclosure controls, procedures and internal controls over financial reporting
  • Control rationalization to reduce compliance costs
  • Establishing processes to identify changes (staff, locations, risks, etc.) and to analyze impact on internal controls over financial reporting
  • Providing training to finance and IT staff
  • Developing reporting tools (i.e. scorecards) to inform top management, the audit committee and the board of directors of the status of the compliance