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

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

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

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