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i need this assignment done, its about accounting. I need it on time. document located here The Sarbanes-Oxley Act of 2002(SOX) is a federal law
i need this assignment done, its about accounting. I need it on time.
document located here The Sarbanes-Oxley Act of 2002(SOX) is a federal law that sets standards for all United States public company boards, management and accounting firms. The law was enacted as a reaction to a number of corporate accounting scandals including Enron and WorldCom. The sections of the bill cover responsibilities of a public corporation's board of directors, add criminal penalties for certain misconduct, and set new expectations for public auditors. The following are the major provisions of the act: 1. Public Company Accounting Oversight Board (PCAOB) Establishes the Public Company Accounting Oversight Board, to provide independent oversight of public accounting 2. Auditor Independence Establishes standards for external auditor independence to limit conflicts of interest, audit partner rotation, and restricts auditing companies from providing non-audit services (e.g., consulting) for the same clients. 3. Corporate Responsibility Mandates that senior executives take individual responsibility for the accuracy and completeness of corporate financial reports. It defines the interaction of external auditors and corporate audit committees, and specifies the responsibility of corporate officers for the accuracy and validity of corporate financial reports. 4. Corporate and Criminal Fraud Accountability Describes specific criminal penalties for manipulation, destruction or alteration of financial records or other interference with investigations, while providing certain protections for whistle-blowers and increases the criminal penalties associated with white-collar crimes and conspiracies. Assignment Auditor's Report: Please study the document located here before beginning this part of the course project. It will help you understand the background of what you will be reading in the auditor's opinion letter. Access the Auditor's letter from the annual report of the company you are analyzing. It is usually found right before the financial statements or right after the notes to the financial statements. In a Word document report on what you find in the audit letter. Be sure to specifically answer the following questions: To whom is the letter addressed? For what is management responsible? For what is the auditor responsible? Does the auditor give absolute assurance that the financials are free of material error? What is the level of assurance is given by the auditor? What policies and procedures does a company's internal control over financial reporting include? Who is the audit firm that signed the letter? Now access the company's code of ethics or code of conduct (you may have to do some searching on the website). Please comment on the ethical behavior expected by the company. Do you feel this is a strong or weak code of ethics? Support your opinion with facts from the code and your outside research. How does the code of conduct relate to the auditor and management responsibilities articulated in the audit letter and by Sarbanes Oxley? Use proper APA formatting and correct usage of English grammar and mechanics in your paperStep by Step Solution
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