How Sox, Sec, Aicpa, Fasb Affect The Comapny?

How do Sarbanes-Oxley, SEC, AICPA, FASB, and other regulations affect the companionship?  How do these daze internal controls and the information technology systems of the company? I relinquish learned from my previous class of External Audit that the of spell out reason why Sarbanes-Oxley Act, SEC, AICPA, FASB and other regulations exits is to force organizations to implement quicken and strong internal controls; And I also was informed from my professor that the following reasons ar the top four reasons why organizations pick up to have strong internal controls and the IT auditor role send be to assist in verifying compliance: 1. The handing all over of the SEC SarbanesOxley Act of 2002 (Public Law 107-204). Under this act, companies would be unfailing to include an annual internal control report of refer stating the following: a) Managements responsibilities for establishing and maintaining adequate internal controls and procedures for pecuniary rep orting for the company b) Managements conclusions about the military strength of the companys internal controls and procedures for financial reporting as of the stop over of the companys most recent fiscal course of instruction c) That the companys registered humans accounting firm has demonstrate to, and reported on, managements evaluation of the companys internal controls and procedures for financial reporting.

2. subjective security and control risk of infection issues organizations face in spite of appearance virtual corporate environments and E-commerce business today. 3. enormous corporate ex pending on information technology has demand! ed that at that place be a quantifiable approach to view not scarcely a return on the corporations investment, but also assurance the products and services the company is give for are performing and producing as intended. Therefore, it is incumbent upon management to palingenesis the effectualness of these controls. 4. The current-day situation of world terrorism and cyber-crime, and the passage of the Homeland plunk for Act of 2002 mandates that we as...If you want to get a full essay, contrive it on our website: BestEssayCheap.com

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