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

How do Sarbanes-Oxley, SEC, AICPA, FASB, and other regulations affect the companionship?  How do these stupor internal controls and the information technology systems of the company? I move everyplace learned from my previous class of External Audit that the of upshot reason why Sarbanes-Oxley Act, SEC, AICPA, FASB and other regulations exits is to force organizations to implement reclaim and strong internal controls; And I also was informed from my prof that the following reasons be the top four reasons why organizations lease to have strong internal controls and the IT auditor role go out 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 needful to include an annual internal control report of solicitude stating the following: a) Managements responsibilities for establishing and maintaining adequate internal controls and procedures for fiscal reportin g for the company b) Managements conclusions about the enduringness of the companys internal controls and procedures for financial reporting as of the stop over of the companys most new-fashioned 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. innate security and control risk of infection issues organizations face inside virtual corporate environments and E-commerce business today. 3. enormous corporate outgo on information technology has demanded that at that place be a quantifiab! le approach to view not scarcely a return on the corporations investment, just now 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 speciality of these controls. 4. The current-day situation of world terrorism and cyber-crime, and the passage of the Homeland dirty dog Act of 2002 mandates that we as...If you want to get a full essay, invest it on our website: OrderCustomPaper.com

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