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 internal controls and the information technology systems of the company? I release learned from my previous class of External Audit that the of write reason why Sarbanes-Oxley Act, SEC, AICPA, FASB and other regulations exits is to force organizations to implement ameliorate and strong internal controls; And I also was informed from my prof that the following reasons are the top four reasons why organizations en flowerpot to have strong internal controls and the IT auditor role go away 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 inevitable to include an annual internal control report of dumbfound stating the following: a) Managements responsibilities for establishing and maintaining adequate internal controls and procedures for pecuniar y reporting for the company b) Managements conclusions about the long suit 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 usual accounting firm has demonstrate to, and reported on, managements evaluation of the companys internal controls and procedures for financial reporting.

2. native security and control risk of infection issues organizations face in spite of appearance virtual corporate environments and E-commerce business today. 3. enormous corporate expending on information technology has demanded that ! at that place be a quantifiable approach to view not alone a return on the corporations investment, moreover 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 persuasiveness of these controls. 4. The current-day situation of world terrorism and cyber-crime, and the passage of the Homeland gage 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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