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

How do Sarbanes-Oxley, SEC, AICPA, FASB, and other regulations affect the companionship?  How do these shock absorber internal controls and the information technology systems of the company? I give birth learned from my previous class of External Audit that the of logical implication reason why Sarbanes-Oxley Act, SEC, AICPA, FASB and other regulations exits is to force organizations to implement better and strong internal controls; And I also was informed from my prof that the following reasons ar the top four reasons why organizations remove to have strong internal controls and the IT auditor role hope be to assist in verifying compliance: 1. The handing over of the SEC SarbanesOxley Act of 2002 (Public Law 107-204). Under this act, companies would be inevitable to include an annual internal control report of take stating the following: a) Managements responsibilities for establishing and maintaining adequate internal controls and procedures for fina ncial reporting for the company b) Managements conclusions about the potency of the companys internal controls and procedures for financial reporting as of the stop over of the companys most novel fiscal course of instruction c) That the companys registered open accounting firm has demonstrate to, and reported on, managements evaluation of the companys internal controls and procedures for financial reporting.

2. constitutive(a) security and control risk of infection issues organizations face deep down virtual corporate environments and E-commerce business today. 3. enormous corporate spending on information technology has demanded that at that place be a quantifia! ble approach to view not wholly a return on the corporations investment, provided 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 effectivity of these controls. 4. The current-day situation of world terrorism and cyber-crime, and the passage of the Homeland venture Act of 2002 mandates that we as...If you want to get a full essay, mold it on our website: BestEssayCheap.com

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