Anthony's Orchard has made a request to the Securities and Exchange Commission (SEC) to change their fiscal year from September to December. The request has been granted and a national accounting audit firm, Ethical and Integrity (E & I), has been engaged to provide an opinion on the financial statements ending December 2009.

Under the Sarbanes-Oxley Act of 2002, Anthony's Orchard Audit Committee, which is comprised of the Internal Auditing Department, is responsible for the oversight of the independent auditor. In addition, The Audit Committee is responsible for obtaining the appropriate input from management and considers the type and scope of work to be performed by the auditor and the audit fees associated with the audit.

The Audit Committee must comply and follow the SEC's rules on auditor independence. Anthony's Orchard personnel must ensure not to impair or interfere with the auditor's independence. Personnel must not engage, in any circumstance, in services that are not permissible.

The Audit Committee has attested to the internal controls over financial reporting as of year-end, section 404.

Familiarise yourself with the Anthony's Orchard company and its current situation; this can be done by exploring each of the tabs across the top of the screen in the Anthony's Orchard case study media. Hint: You should focus on the financial information.