The Effects of the Sarbanes-Oxley Act There have been widespread reactions to corporate scandals which have become seemingly common in corporate America. Government reaction to these unethical corporate and accounting scandals has led to regulation and intervention. The Sarbanes-Oxley Act of 2002 is seen as a response to the lack of corporate governance present in many corporations. The Sarbanes-Oxley Act of 2002 is also known as the Public Company Accounting Reform and Investor Protection Act of
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Touro University California Theresa Williams-Rivers Module 1 Case Assignment ETH501: Business Ethics Dr. Gary Shelton Saturday, April 26, 2014 A Master’s paper submitted to the faculty of Touro University California In partial fulfillment of the requirement for the award of Graduate Diploma in Master’s Degree in Business Management Introduction The purpose of this assignment is to provide a critical analysis of the 2002 collapse of Adelphia Communications as seen through the lens
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Adoption of the Sarbanes-Oxley Act of 2002 as an Important Piece of Legislation Accounting I 02/27/2011 Analyze the new or enhanced standards for all U.S. public company boards, management, and public accounting firms that the SOX required. The main purpose of the Sarbanes Oxley Act was to establish an accountable system of regulations and policies to ensure proper compliance. The set of standards and deadlines the act put into place was mainly in response to an alarming amount of corporate
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LBJ Company: Internal Control Evaluation Accounting 504: Managerial Use & Analysis Case Study 2 Written by: 8/10/13 This evaluation is being presented as an assessment of the preparedness of the LJB Company to go public at a future date. By researching current regulations regarding publicly traded firms we hope to prepare for a smooth transition into the trading market. The Sarbanes-Oxley Act of 2002 (SOX) has established the following guidelines for publicly traded corporations
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Case Study of Just For Feet Inc. Xuan Zhang Q1. Prepare common-sized balance sheets and income statements and compute key ratios for 1997-1998. What were the high-risk financial statement items for the 1998 audit? * Common-sized financial statements: * Key ratio analysis: Liquidity and solvency: | 1999 | 1998 | 1997 | Current ratio | 3.387 | 1.998 | 2.142 | Debt to equity | 1.117 | 0.672 | 0.720 | Times interest earned | 6.376 | 24.665 | 28.286 | Activity | |
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|Details of Assessment | |Term and Year |3, 2013 |Time allowed |Week 9 | |Assessment Type |Assignment |Assessment Weighting |20% Total | |Date |
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the Beasley case, briefly answer the following questions about Societe Generale: 1. Provide one example of an internal control deficiency in each (a total of 3) of the following areas: 1) control environment, 2) processes, and 3) technology. 2. Provide two benefits for a company to “hire from within”. Provide two additional drawbacks to companies “hiring from within”. 3. The rogue trader at Societe Generale engaged in non-authorized trades during 2006 and 2007. His fraud was discovered
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University of California Theresa Carter Module 1 Case Assignment ETH501: Business Ethics Saturday, April 26, 2014 A Master’s paper submitted to the faculty of University of California In partial fulfillment of the requirement for the award of Graduate Diploma in Master’s Degree in Business Management Introduction The purpose of this assignment is to provide a critical analysis of the 2002 collapse of Adelphia Communications as seen through the lens of Immanuel Kant deontological
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Role of Internal Auditors in the Anti-Corruption Battle John FlahertyThe Challengeh Bribery, and other illicit payments are contrary to the public good. They thwart the competitive process and circumvent laws, regulations, and procedures put in place for the public good. They divert funds from owners, shareholders, and are usually paid as fees, commissions, or are paid without record. The cost to the public totals millions of dollars annually. The US Government is aware of almost 100 cases in which
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operating under their own guidelines which may or may not involve integrity, responsibility, or accountability. Publically traded companies are required to have some type of corporate governance in place since the scandals from Enron and WorldCom. The case study that we are discussing is from United Thermostatic Controls. United has many different divisions and they are all decentralized according to their respected area. The southern division has been gradually decreasing in sales and having a hard time
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