NORTHCENTRAL UNIVERSITY ASSIGNMENT COVER SHEET Learner: MGT7019-8 THIS FORM MUST BE COMPLETELY FILLED IN Please Follow These Procedures: If requested by your mentor, use an assignment cover sheet as the first page of the word processor file. The assignment header should include the Learner’s last name, first initial, course code, dash, and assignment number (DoeJXXX0000-1) justified to the left and the page number justified to the right. Academic Integrity: All work submitted
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Rangkuman Pelaporan & Akuntansi Keuangan AKUNTAN PUBLIK DAN REGULATOR ATAS KEANDALAN SISTEM PELAPORAN KEUANGAN Studi Kasus : Penerapan Sarbanes Oxley di Indonesia Oleh : Levinda Edvandini Yustina Hiola [pic] PENDIDIKAN PROFESI AKUNTANSI UNIVERSITAS BRAWIJAYA 2012 AKUNTAN PUBLIK DAN REGULATOR ATAS KEANDALAN SISTEM PELAPORAN KEUANGAN Perekonomian suatu negara yang menganut sistem pasar, terutama yang memiliki pasar modal untuk menggalang dana masyarakat bagi
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RBOX Reflection Paper on The Sarbanes-Oxley Act I. Introduction The Sarbanes-Oxley Act of 2002 (Sarbox or SOX), also known as 'The Public Company Accounting Reform and Investor Protection Act' in the US Senate, was enacted on July 30, 2002. This law was co-authored/sponsored by US Senator Paul Sarbanes (D-Maryland) and US Congressman Michael Oxley (R-Ohio). The act contains 11 sections with various requirements ranging from additional corporate board responsibilities to criminal penalties, and
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government stepped in and created regulations such as the Securities Act of 1933 and 1934, to the ever so popular Sarbanes-Oxley Act of 2002, to the more recent Dodd-Franck Law of 2010. The aim behind these regulations is noble. They are formed to prevent fraud, misrepresentation, bring more transparency and above all, prevent another financial crisis. But, how successful are these regulations? Are we over regulated or are we in need for more regulation? Investors and common public's faith in our economy
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The NYSE, uses its floor, in making stock markets sales, where as the NASDAQ, uses network computers that allow for extremely efficient trading. The NYSE, and the NASDAQ, both have a matrix approach to be listing standards. The Public Company Accounting Reform and Investors Protection Act of 2002, is also known as the Sarbanes-Oxley Act of 2002. It was created and designed, to help create financial reporting guidelines, which all public companies, must comply with, regardless of the size of the
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standards for the boards and management of both public companies and public accounting firms. The law was passed after the myriad scandals that rocked American securities markets, e.g., Enron, WorldCom, Tyco, and others. Sarbanes-Oxley is wide in scope, establishing numerous responsibilities on the part of corporate boards, with compliance closely monitored by the government. While employees commonly discover fraud before other monitors, many are reluctant to report it. In an effort to
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before and to understand how accounting works outside of the classroom as I have been taught all about the concepts in the accounting classes I have taken so far. I would have never thought of the past repeating itself in the financial market world, but as the book talks about, the Arthur Andersen scandal that gave the creation of new acts and regulations such as the Sarbanes-Oxley act shows that unscrupulous behavior has existed way before companies such as Enron and WorldCom made world headlines when
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Abstract According to the phase 2 individual project assignment instructions, each student is asked to look at two scenarios and answer the related ethical questions following each one (CTU Online, 2013). Additionally, it is asked that each student provide a discussion on the new GAAP guidelines for consolidating entities, and to provide an example of a firm that has experienced trouble for failure to comply with the GAAP guidelines.
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Sarbanes Oxley Act Institution Name Date Sarbanes Oxley act is a legislation put in place due to the high profile WorldCom and Enron financial disgrace in protecting shareholders and the public in general from errors in accounting and the falsified performance in the activity. The main function of this act is to show how records are to be kept in a specific period of time. This act is managed by the Securities and Exchange Commission whereby it has the power to put rules on the requirements
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The Effect of SAS No. 99 on Auditor’s Responsibility to Detect Fraud The Auditing Standards Board (ASB) issued the Statement of Auditing Standard (SAS) 99 known as Consideration of Fraud in a Financial Statement Audit in November 2002. SAS 99 supersedes SAS 82 in response to its inadequacies, which were brought to light after the major accounting scandals including those at Enron, Worldcom, Adelphia and Tyco. It became effective for all financial statement audits on or after December 15, 2002
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