of the Act are titles 302, 401, 404, 409, 802 and 906. The main premise of this paper is to investigate one of the most challenging aspects of SOX’s regulations - a company’s responsibility for implementing effective internal control – as described in Section 404. Role of the Internal Control in the Financial Reporting and Section 404 The requirements of the
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Moreover, the listing of police convicted of crimes undoubtedly underestimates the problem of corruption in the Chicago Police Department (CPD). The list does not include undetected and unreported illegal activity, serious misconduct resulting in internal disciplinary action, and officers who retire rather than face charges. Our analysis of police corruption in Chicago yields four major findings. First, corruption has long persisted within the CPD and continues to be a serious problem. There have
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corporation in the nation. The purpose of this case study is to first research how the corporate leaders at Enron, who are so smart, managed to display such poor judgment. Secondly, answer the question: What do you see as the contributing factors to the demise of corporate giants like Enron, World Com, TYCO, Arthur Andersen, and others? This case study will identify at least three, and explain how their poor judgment contributed to their demise. Also in this case study I will address the questions: What might
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securities laws." (SOX-Online.com). Specifically, the act requires a heightened level of accountability from Chief Executive Officers, Chief Financial Officers, the implementation of a Board of Directors, stricter fines and jail time for violations or fraud, closely monitored disclosure of financial documents and data, and the need for independent external auditing. 2. Examine why the new enhanced standards are necessary. The basic concept of why the new enhanced standards are necessary is to
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agree to correct the financial statements C. The external auditors support the CEO and do not agree to correct the financial statements D. The audit committee should always be the first to be informed about such a difference of opinion 4. An internal accountant should always take the following step after exhausting all avenues of appeal within the organization when there is a difference of opinion with top management on an accounting or financial reporting matter: A. Inform the SEC B. Terminate
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NAME: ADDRESS: EMAIL ADDRESS: TELEPHONE NUMBER: COURSE NUMBER: TITLE: INSTRUCTOR: DATE: INTRODUCTION Lifestyle auditing is the study of a person’s standards of living and uses this information to confirm whether it is consisted with their reported income. This involves the tax authorities conducting independent investigations on business trusts, individual tax payers and company. This is done to ensure that monthly living the monthly living expenses of the tax payer
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The threat within A study on insider threat by DSCI in collaboration with PwC About Data Security Council of India (DSCI) Data Security Council of India (DSCI) is a focal body on data protection in India, setup as an independent Self-Regulatory Organisation (SRO) by NASSCOM®, to promote data protection, develop security and privacy best practices & standards and encourage the Indian industries to implement the same. DSCI is engaged with the Indian IT/BPO industry, their clients worldwide
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Lakeside Auditing Case Study Case 1 Prepared by: January 27, 2011 1: An independent annual audit can provide credibility to information, and this could be very helpful for decision making. In this specific case, the owner of the Lakeside requires an independent CPA firm to perform an annual audit because the owner wants to show the public a “good-look” of its financial statements; since he would like to receive more capital by making his company public. In addition, good-looking financial
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by Sue Woodrow entitled, “Ethics as a building block of economic growth: Global insights and Indian Country models” warns an effective institutional framework encourages and manages ethical behavior is crucial aspect of good governance (¶2). The study is based on input from across the country suggest serious consequences if business professionals continue to ignore an ethical infrastructure. One area that needs to be addressed with all tribal governments and entities leaders
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ACCOUNTING FRAUDS CONTENTS WHAT ARE FRAUDS? | WHAT ARE ACCOUNTING FRAUDS? | NOTABLE FRAUDS | NOTABLE OUTCOMES | MANIPULATION & FALSIFICATION OF RECORDS | MISAPPROPRIATION OF CASH BALANCES | MISAPPROPRIATION OF GOODS | TEEMING & LADING | WINDOW DRESSING | SECRET RESERVES | ENRON FRAUD | WORLDCOM FRAUD | WHAT ARE FRAUDS ??? FRAUDS AND THEIR CHARACTERISTICS Misstatements in the financial statements can arise from fraud. In criminal law, a fraud is an intentional
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