Ethics and Compliance
Microsoft - Ethics and Compliance
Microsoft Corporation provides a wide range of services and products worldwide. They are responsible for developing, manufacturing, licensing, and supporting a large range of software products made for computing devices (Microsoft, 2007). They are part of the technology sector, and are a key player in the software & programming industry (Google, 2008). Microsoft is a United States based multinational company, with employees around the world. Team A will analyzing the Microsoft corporation and take a look at financial numbers. Team A will also look at the non-financial data such as ethics and compliance factors which are just as equally important.
Internal Controls
Microsoft’s internal control over financial reporting is based on the framework in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. As of June 30, 2007, the company did not make any changes to the internal controls over financial reporting procedures and it was deemed effective by the auditing firm Deloitte & Touche LLP.
Microsoft’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company 's assets that could have a material effect on the financial statements (Microsoft, 2007, p. 72).
SEC Regulations
The Securities Exchange Commission
Microsoft Corporation provides a wide range of services and products worldwide. They are responsible for developing, manufacturing, licensing, and supporting a large range of software products made for computing devices (Microsoft, 2007). They are part of the technology sector, and are a key player in the software & programming industry (Google, 2008). Microsoft is a United States based multinational company, with employees around the world. Team A will analyzing the Microsoft corporation and take a look at financial numbers. Team A will also look at the non-financial data such as ethics and compliance factors which are just as equally important.
Internal Controls
Microsoft’s internal control over financial reporting is based on the framework in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. As of June 30, 2007, the company did not make any changes to the internal controls over financial reporting procedures and it was deemed effective by the auditing firm Deloitte & Touche LLP.
Microsoft’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company 's assets that could have a material effect on the financial statements (Microsoft, 2007, p. 72).
SEC Regulations
The Securities Exchange Commission
References: Google. (2008). Microsoft Corporation. Retrieved August 28, 2008, from Google Finance: http://finance.google.com/finance?fstype=bi&q=NASDAQ:MSFT Keown, A., Martin, J., Petty, J., & Scott, D. (2005). Financial Management: Principles and Applications (10th ed.). Upper Saddle River, NJ: Pearson/Prentice Hall. Microsoft. (2007). Microsoft Corporation Annual Report 2007 retrieved on August 31, 2008 at web site http://www.microsoft.com/msft/reports/ar07/staticversion/index.html