Sarbanes-Oxley Act of 2002 established a new five-person board to oversee financial accounting in publicly traded corporations. The board is appointed by the Securities and Exchange Commission. Prior to the creation of this board the industry relied primarily on self-regulation through the American Institute of Certified Public Accountants. Do you think the establishment of the new oversight board was a good idea or should the profession have continued to be self-regulated? In 2002 there was a new act
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As I expressed in my previous letter addressed to you in May 2017‚ Cives Corporation (“Cives”) had significant concerns at that time involving the manner in which Starr Indemnity and Liability Company (“Starr”) has taken a position in the above litigation that is adverse to Cives. As you are aware‚ Cives is one of the insureds afforded coverage and a committed defense under the CCIP policy that Starr issued to Lend Lease for the River Point project. Starr’s prior position as expressed in your April
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The Sarbanes-Oxley Act of 2002 (Public Company Accounting Reform and Investor Protection Act‚ Pub.L. 107-204‚ July 30‚ 2002‚ 116 Stat. 745‚ July 30‚ 2002) was enacted by Congress in the wake of corporate and accounting scandals that led to bankruptcies‚ severe stock losses‚ and a loss of confidence in the Stock Market. The act imposes new responsibilities on corporate management and criminal sanctions on those managers who flout the law. It makes Securities fraud a serious federal crime and also
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The End of the Aviation Survival Technician? A recent trend has shown a steady decline in attendance at Aviation Survival Technician (AST) “A” School‚ resulting in several classes being cancelled due to no students; ultimately leaving the fleet short almost 40 AST3’s. The future of the AST rating is in jeopardy due to lack of qualified applicants. I believe this is a direct result of little advancement opportunity within the AST community‚ fear of failure amongst today’s youth‚ and simply not enough
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Case Cerberus Corporation This case illustrates the conflict that can arise between a project team and its stakeholders. 1. If you were Steele‚ what would you do? Some students may feel that Susan Steele should stand her ground and attempt to convince Jon Wood to change his mind. However‚ this is an emotionally charged situation‚ on the verge of turning into a shouting match. Susan needs to acknowledge Jon’s concerns about money and restore civility if she has any hope of depolarizing the situation
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The high technology level connected to the new tool requires that the company is able to adapt to changes within the process. Takata Corporation has always been a company that has tried to be flexible over time it has developed security tools in step with the times. (Takata‚ 2015) However‚ it is necessary that the process will be able to include a more sophisticated level of technology. It also need a quickly understanding of car databases and also the need to adapt the process to the police system
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company opened the first Kmart discount department store in a suburb of Detroit.
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Ranbaxy’s criminal guilty plea and $500 million in fines and penalties has brought back the spotlight on corporate governance. The criminal case focused on sales in the US market. However‚ if media reports are to be believed‚ Ranbaxy committed systemic fraud in its worldwide regulatory filings. The US case dates back to the year 2004. This is the initial year when the Corporate Governance Code‚ which was issued by Sebi in the year 2000‚ was made mandatory. Therefore‚ it is quite likely that many
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electrophotography‚ Xerox 914 became an instant office item pursued by countless organizations around the globe. As a result‚ Xerox business opportunities and market share greatly expanded throughout the 1960s and made scores of long-suffering investors high-flying millionaires. Today‚ it boasts of having the competency to manufacture and market various office related and document-management products such as color and black-and-white printers‚ copiers‚ digital production printing presses and several
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The antebellum market revolution transformed a subsistence economy of scattered farms and tiny workshops into a national network of industry and commerce. In other words‚ it took the work that most people did in their homes‚ and made them more efficient through factories. On the other hand‚ the Second Great Awakening was a religious revival characterized by emotional mass “camp meetings” and widespread conversion. It influenced many things including the women’s movement. Although women were still
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