... SOX 404 opinions. The presence of material internal control weaknesses (ICW) significantly increases audit report lags, but AS5 does not have any incremental moderating effect on report lags and the ICW relationship. Tests for the firms with company-level and account-specific ICWs demonstrate...

... assistance. This work is supported in part by the National Natural Science Foundation of China (NSFC, No. 71271134). August 2012 March 2015 2015 internal control over financial reporting SOX 404 material weaknesses credit default swaps CDS cost of debt derivatives pricing...