Components of coso internal control framework

Assignment Help Accounting Basics

Reference no: EM13819018

In two to three paragraphs, describe the Sarbanes-Oxley Act and why it is important to the accounting profession.

Name and briefly describe the five components of COSO's internal control framework.

Describe the relationship between the Sarbanes-Oxley Act and COSO.

Tom Jackson is a CPA who really likes to go to Las Vegas, play poker, and bet on football games. Tom knows that the accounting profession disapproves of gambling, but because he spends a lot of time studying sports facts and how to win at poker, he feels that he is simply making educated decisions based on facts. He says that this is no different from using accounting information to buy stocks. Use the fraud triangle as a basis to comment on Tom's gambling activities.

Reference no: EM13819018

Questions Cloud

Valuation-depreciation-amortization and depletion : Write a 350- to 700-word paper in which you differentiate between valuation, depreciation, amortization, and depletion. Is it appropriate to calculate depreciation using two different methods? Why?

Which grand strategy is apple inc currently using : Which Grand Strategy is Apple Inc. currently using? Explain your answer in relation to the Grand Strategy Selection Matrix. Provide at least two recommendations for Apple Inc. to be successful in the present state of the industry

Should the states have authority to create medical exception : Federalism is at issue in an ongoing dispute between the states and the Federal Government over the legalization of marijuana. California voters, as well as voters in a number of other states, have approved laws and ballot initiatives permitting d..

Impact of the five forces that drive competition in industry : Identify a specific industry and, relying solely on your impressions and research, evaluate the impact of the five forces that drive competition in the industry that you have chosen

Components of coso internal control framework : In two to three paragraphs, describe the Sarbanes-Oxley Act and why it is important to the accounting profession. Name and briefly describe the five components of COSO's internal control framework.

Identify what you believe is equilibrium price and quantity : Discuss the relevant prices and quantities for the current market situation and identify what you believe is the equilibrium price and quantity.

How does corporate governance manage the strategic plan : How does corporate governance manage the strategic plan? How does corporate governance inform the strategic plan

Demand affect the deadweight loss of a tax : How do the elasticities of supply and demand and demand affect the deadweight loss of a tax? Why does this effect occur - What does the domestic price that prevails without international trade tell us about a nation's comparative advantage?

Value what political science offers : Do you, to quote political scientist Thomas Patterson, value what political science offers and do you relish politics? Or do your views currently fall short of these ideals

User Account

All Pages