Module 1 Introduction to CGA The business environment Company’s objectives: Achieving growing profits. Company stakeholders: P 1.04 Customers Suppliers Regulators Competitors Employees Government Interest Groups Owners Lenders Types of Company Company’s Characteristics:
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are also a very important internal control procedure so are documents, and electronic devices. What is The Sarbanes-Oxley Act? The Sarbanes-Oxley Act was passed by congress in 2002 with the aim of preventing an assortment of ills related to corporate finance and reporting. The Enron and WorldCom scandals had a great deal to do with The
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against the need to enable the business, maintaining compliance, and ensuring cultural fit. The article describes these objectives and the security alignment mechanisms needed to achieve them and concludes with guidelines that can be applied to ensure effective information security management in different organizational settings. INFORMATION SECURITY HAS BECOME A STRATEGIC ISSUE Information security continues to be a major concern among corporate executives. The threat of terrorism, a growing
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rules the accountants within the organization must adhere to during a copy summarization of all the transactions and in doing the usual tasks such as preparing all the financial statements. Any third party involved with these reports need to rely information within the report to be without inconsistencies or flaws. These can help ensure that the GAAP standards are being maintained and adhered to. All business currently states that, "the generally accepted accounting principles serves as guidelines
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accounting, all of which can lead to the inclusion of incorrect information in a financial statement. Prior to 2002, investors had no protection against corporations that failed to fully disclose financial information. This led to some of the biggest corporate fraud cases, involving companies like Enron and WorldCom. In 2002, because of the unethical practices of both Enron and WorldCom, the government created the Sarbanes-Oxley Act of 2002. In order to understand this Act, it is important to know what
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according to Forbes (2002, Patsuris). Due to these scandals, the United States government stepped in and started making regulatory changes such as disclosure requirements and better detailed reporting of off-balance sheet financing. If any of these reports are found to be purposely misreported then penalties to the executives will be ensued. This why it is important for transparency to be a part of the IT governance. So, Sarbanes_Oxley (Sox) was adopted for all companies to comply with a standard
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does not, understand what auditors do, unless he or she is involved in doing audits, or has been trained as an auditor. 2-2 Solutions Manual - Principles of Auditing and Other Assurance Services 3. Audits of Financial Statements Compliance Audits Operational Audits Purpose To determine whether the financial statements are presented in accordance with GAAP. To determine whether the client is following specific procedures set by higher authority. Users of
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provides services in the fields of engineering, construction, procurement and maintenance to its clients in the fields of oil and gas, chemicals, pharmaceuticals, alternative energy, nuclear infrastructure and government projects. Fluor Corp.'s ethical compliance initiatives, many argue, create a virtuous cycle in eroding corruption practices. However, the bigger debate is, would everyone buy Fluor Corp.'s philosophy? Why is it doing what it's doing? Corruption, Business Corruption: The Insatiable Motivations
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provides services in the fields of engineering, construction, procurement and maintenance to its clients in the fields of oil and gas, chemicals, pharmaceuticals, alternative energy, nuclear infrastructure and government projects. Fluor Corp.'s ethical compliance initiatives, many argue, create a virtuous cycle in eroding corruption practices. However, the bigger debate is, would everyone buy Fluor Corp.'s philosophy? Why is it doing what it's doing? Corruption, Business Corruption: The Insatiable Motivations
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Headquartered in Atlanta, Georgia-Pacific employs some 50,000 people worldwide. It’s a privately owned company with a Board of Directors and Executive Leaders. The employees are guided by Market Based Management Principles, based on integrity and compliance. Founded in 1927, the company has grown to become one of the world's leading manufacturers and marketers of paper products. Georgia-Pacific fosters a work environment and culture that makes the protection of health and safety of employees a
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