Discuss how the Sarbanes-Oxley Act has increased the importance of internal control to top managers of a

Question:

Discuss how the Sarbanes-Oxley Act has increased the importance of internal control to top managers of a company.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting Tools For Business Decision Making

ISBN: 9780470377857

3rd Edition

Authors: Paul D. Kimmel

See More Books

Question Posted: Sep 22, 2011 10:54 AM

See More Questions

The Sarbanes Oxley Act of 2002 (SOX) has important implications for the financial community. Explain two implications of SOX.
The Sarbanes Oxley Act was issued in 2002 in response to the many corporate scandals to help reduce fraud, improve the reliability of financial reporting and restore public confidence in the...
The Sarbanes Oxley Act requires companies to document their business processes and internal controls. Evaluate how each of the flowcharts presented in the text document system and program may fulfill...
[S] Explain how each of the following cost items could be classified under more than one of the headings given in question A2.3: (a) raw materials to be used in production; (b) subcontracted labour...
Locate the centroid of the plane area shown. 60 im To mm 75 mm 75 mm 60 mm 60D mm
Calculate the necessary rotational speed N for the aerial ride in an amusement park in order that the arms of the gondolas will assume an angle = 60 with the vertical. Neglect the mass of the arms...
Explain why the Central Limit Theorem is important in finding an approximate distribution for (j3, - 13,).
List the major influences on business buyer behavior. Why is it important for the B-to-B marketer to understand these major influences?
The management of Unter Corporation, an architectural design firm, is considering an investment with the following cash flows Year 1 2 3 4 5 6 7 8 9 10 Investment Cash Inflow $61, eee $ 3,000 $ 5,eee...
We will be working with a company called Global Bike Inc., (GBI). Information regarding GBI follows. Company History Global Bike Inc. has a pragmatic design philosophy that comes from its deep roots...
Identify the five components of a good internal control system.
What principles of internal control apply to most businesses?
Explain the difference between a current and a noncurrent liability. Give an example of each. Explain whether liability amounts are difficult or easy to determine.
POTI ENTERPRISES LTD. STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31 (current year) SALES $600,000 COST OF SALES: $50,000 OPENING INVENTORY 250,000 PURCHASES 300,000 CLOSING INVENTORY 60,000...
10. Describe a qualified defined contribution plan for the self-employed and discuss the advantages and disadvantages in adopting this type of plan. 11. Describe a SEP IRA and discuss the advantages...
7.) In 1999, the average percentage of women who received prenatal care per country is 80.1%. Table #7.3.9 contains the percentage of woman receiving prenatal care in 2009 for a sample of countries...
Describe A demographic profile of the population and community that will be served through the reinvented Human Service program. The description must include all eligibility requirements (i.e.,...
You work for a major financial institution. Your branch handles customer calls from a wide variety of individuals. Recently, you've noticed an increase in calls from individuals from African...
MIRR Slow Ride plc is evaluating a project with the following cash flows: Year Cash flow () 0 19,000 1 7,100 2 8,800 3 9,400 4 4,500 5 7,100 The company uses a 12 per cent interest rate on all of its...
Privitera and Freeman (2012) constructed a scale to measure or estimate the daily fat intake of participants; the scale was called the estimated daily intake scale for fat (EDIS-F). To validate the...
What are the four main types of keys?
A credit sale is made on July 10 for $900, terms 2/10, n/30. On July 12, $100 of goods are returned for credit. Give the journal entry on July 19 to record the receipt of the balance due within the...
Prepare the closing entries for the Sales account, assuming a balance of $200,000 and the Cost of Goods Sold account with a $145,000 balance.
Reese Co. has sales revenue of $105,000, cost of goods sold of $70,000, and operating expenses of $20,000.What is its gross profit and its gross profit rate?
Case Products manufactures two models of DVD storage cases: regular and deluxe. Presented is standard cost information for each model: Cost Components Regular Deluxe Direct materials Lumber 2 board...
A corporate bond that you own at the beginning of the year is worth $930. During the year, it pays $56 in interest payments and ends the year valued at $920. What was your dollar return and percent...
Anissa makes custom bird houses in her garage and she buys all her supplies from a local lumber yard. Last year she purchased $4500 worth of supplies and produced 2500 bird houses. She sold all 2500...

Discuss how the Sarbanes-Oxley Act has increased the importance of internal control to top managers of a

Question:

Step by Step Answer:

The SarbanesOxley Act requires that a company develop sou...View the full answer

Accounting Tools For Business Decision Making

Students also viewed these Cost Accounting questions