Literature Review Of Industry Specific (finance, Banking, Large Corporation, Etc.) Sarbanes-oxley Best Practices

Stephen Wagner and Lee Dittmar The Unexpected Benefits of Sarbanes-Oxley Best Practice observe by chance SOX s most burdensome element was Section 404 , which says that it is worry s function to maintain a sound internal-control structure for financial reporting and to assess its own effectiveness , and that it is the auditors responsibility to attest to the wisdom of management s assessment and report on the state of the boilers suit financial control system . On these views , Peter train der Heyden responds by saying that though as a issue of SOX there result a highly efficient chronicle procedure , less duplication of data entry and checking , clearer definitions of the centre of reports , more standardization of functions across different divisions or geographical locations , and so on , the function of accounting is not honorable to show the numbers but to help the senior management in taking meaningful decisions5 .0 Sarbanes - Oxley Industry Best PracticesIntroduced by senators Paul Sarbanes and Congressman Michael G .

Oxley as an accounting overseeing round to ensure an efficient corporate governance and also to think the confidence if the investors in the listed companies the Sarbanes - Oxley Act requires those companies to which the Act applies to assume responsibilities for foil in financial reporting as a gist of exercising stringent corporate governance measure . The toleration of Sarbanes - Oxley best practices have been increasingly getting prominence because ofThe evidentiary liability resulting to officers and directors of listed companies due to non-complianceImpact of non compliance on the bond ratings and exist of loansThe insistence by the regulators and the business partners of strict adherence to the practices andOf novel the accountants and the auditors have started adopting the provisions of Sarbanes - Oxley principles for all industries5 .1 Different Aspects Covered by the Best PracticesThe following...If you want to get a full essay, golf club it on our website: Orderessay

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