The Securities Act of 1933 The Securities Act of 1933 is also referred to as the “truth in securities” law. The Act has two objectives, one is requiring that investors receive financial and other significant information concerning securities being offered for public sale; and prohibit deceit, misrepresentations, and other fraud in the sale of securities (The Laws That Govern the Securities Industry , 2012). The Securities Act of 1934 The Securities Act of 1934 Congress created the Securities
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has been designed to be read in conjunction with the post-Sarbanes-Oxley technical audit guidance. All of the post-Sarbanes-Oxley technical guidance is available for free at http://www.pcaobus.org/Standards/index.aspx. In addition, a summary of the Sarbanes-Oxley Act of 2002 is also available for free at http://thecaq.aicpa.org/Resources/Sarbanes+Oxley/Sarbanes-Oxley+–+The+Basics.htm. II. Recommended Technical Knowledge The Sarbanes-Oxley Act of 2002 Section 103 Section 203 III. Classroom Hints
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Economics of Water Abstract Government regulation is needed in today’s industry. While this paper will look at the governance of the economics of water it will start with a brief introduction of the reasons why government regulation is something that the shareholders’ of a corporation should embrace and should ignore the hype from management, media, and academia about why governance is wrong. They tend to mistakenly call all decisions as opportunistic behavior whether it is ethical or not
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will address five aspects of the corporate world and the ethical breaches that have been made in the last few years. The company that we will look at for examples is WorldCom. WorldCom was one of the companies that led to the creation of the Sarbanes-Oxley Act of 2002. The five questions that we will address in this paper are: 1. Is current business and regulatory environment more conducive to ethical behavior? 2. What impact was done to WorldCom because of the accounting ethical breach
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of financial statements. It gives examples of the corporate governance failures of companies like Enron and WorldCom. It covers how and why these failures happened and reviews the grave consequences of the failures. It also takes a brief look at the laws that have been passed to prevent future failures, such as the Sarbanes-Oxley act of 2002. It shows how the new laws have been helpful but have not solved the problem. Finally, it shows how the implementation of financial statement insurance will
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Case Study 2 With deciding to go public; LJB Company would be required to follow the Sarbanes-Oxley Act; which stated that all public traded U. S. corporations are required to maintain an adequate system of internal control. As the President of the company it will be both your responsibility of the board of directors to make sure that the internal controls are reliable and effective. You must also hire an independent outside auditor to come in periodically to ensure the adequacy of the company’s
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such as illegal transactions and operations or neglect of duties among others. The Sarbanes-Oxley due is a policy that sets the standards for the United States public company offices especially the boards, management and public accounting organizations. The paper describes a whistleblower and provides an example of a whistleblower case. The paper also analyzes the whistleblowers actions according to the Sarbanes-Oxley Act. As stated earlier a whistleblower is the individual that tells of an inappropriate
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managers, investors can review liquidity of companies based on sound information. Also, investors can purchase stock at prices they are comfortable with and contribute to a company sustaining a long business life. What are three primary roles of the U.S. Securities and Exchange Commission (SEC)? How does the Sarbanes-Oxley Act of 2002 augment the SEC’s role in managing financial governance? Do you think businesses became more ethical after Sarbanes-Oxley was passed? Provide examples
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Jane Shoes Apollo Shoes 1234 Shoe Avenue Shoetown MA 12345 Dear Ms. Jane, This letter serves to confirm the request for Team C CPA to consult with Apollo Shoes on Sarbanes-Oxley Section 404. The consultation will include the significant regulations and guidelines related to audits of internal control. We will identify the internal control risks within Apollo Shoes as well as a description of the relationship between internal controls and the audit process, and a brief synopsis of our
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of Fraud and Commercial Crime.” New York: John Wiley & Sons. This source will give the reader information about the different types of frauds that occurred under the three acts by Accountants. Constantine N. Katsoris.(1967). Fordham Law Review: Accountants' Third Party Liability-How Far Do We Go? Vol (36). Issue 2. Pg.191. This source will provide a more in-depth detail of the third party liability relationship between accountant and the parties. Frederick D., Greene, & Alfonse
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