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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Table of Contents Abstract Congress passed the Sarbanes-Oxley Act of 2002 in response to financial scandals perpetrated by Enron and WorldCom‚ and it has had a strong impact on corporate accounting and financial decision-making. This law was intended to enhance financial transparency for publicly-traded companies. The Sarbanes-Oxley Act established new regulations and penalties for public companies to protect investors. In addition
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Student’s Name | __________________ | Professor’s Name | __________________ | Course Title | __________________ | Date | __________________ | SARBANES-OXLEY ACT OF 2002(SOX) Introduction to SOX: Financial Analysis involves evaluation of business‚ budgets‚ projects etc to ensure stability‚ liquidity‚ and solvency and at last profitability of the business in presence of domestic and global macro-economic environment to determine suitability of investment. This evaluation is not completely
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BP and Consolidation of the Oil Industry‚ 1998-2002 Executive Summary BP should sell its business and start a new business‚ a clean energy production‚ because it would lose profits from oil supply. Oil industry had not developed in perfect competition; oil price was easily controlled since oil industry was oligopoly‚ many consumers exist and the government protected oil industry from competition. However‚ oil industry is facing perfect competition; oligopoly formation of oil industry
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1- public accounting firm is a firm that registered by the public accounting oversight board so it provides accounting service to public company. Sarbanes-Oxley Act of 2002 contains provision preventing any company which is not registered with the board from‚ furnishing‚ participating in an audit of a public company or preparing. the different categories of public accounting firm are as follow : (Local Regional National Big 4 Alternative Practice Structures) Also there are different
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BEAUTIFUL STORY OF DREAMS Sometimes we get what we need and not what we want.......... Once there were 3 trees on a hill in the woods. They were discussing their hopes and dreams when the 1st tree said‚ "Someday‚ I hope to be a treasure chest. I could be filled with gold‚ silver and precious gems and be decorated with intricate carvings. Everyone would see my beauty." The 2nd tree said‚ "Someday‚ I will be a mighty ship. I will take kings and queens across the waters and sail to the
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Every Day is a New Beginning No matter how bad was yesterday‚ it has passed and today is a new beginning and we have the opportunity to make good of what we have failed to achieve yesterday‚ so that we could achieve a better result in the future. Each day truly is a gift and some people don’t even wake up to see the light of a new day! When most people do wake up and hear the alarm‚ they hit the snooze button and turn over to catch a few more z’s. Before they even get out of bed‚ they are avoiding
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In the Hindu religion there is a belief that you are created from light. And in our life there will be karmic relationships‚ soul-mates‚ and there one twin flame. Karmic relationships are people that you will meet in your life who are there to teach you a valuable lesson and then be gone. Soul mates are people we will spend much time with‚ and learn from and trust more than anyone. But it is said you will not be with your soul mate forever. And when our soul is created‚ one and only one twin flame
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Leiningen was an aging plantation owner. He ran his large‚ agricultural estate with the help of some four hundred workers. Leiningen was the type of man who took the bull by the horns‚ so to speak. He knew that within two days‚ a huge swarm of hungry‚ perilous ants would reach his plantation. He also knew that it was nearly impossible to stop them. Ants like these destroyed everything in their path. Leiningen believed that a man’s brain and his power to use it effectively made him virtually
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How to select toys for young children There are right ways and wrong ways to select toys for different age groups. In this essay I will explain what some of the appropriate ways are. First off be sure to know what toys you are looking for (age group‚ developmental level and safety). Observe the age group for a bit and see what kind of toys they are most interested in. Do they like building blocks‚ dolls‚ and dress up‚ reading books or coloring? This will give you more of an idea of what is
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