Develop critical skills by analyzing ethical and legal issue

Assignment Help Financial Accounting
Reference no: EM13173166

Your CEO read a recent report on the importance of the SOX Act, but he acknowledged that he does not know much about it. He requested that you explain why the SOX Act was enacted and if you think it has helped the industry.

  • Describe at least 3 main reasons that you think prompted the U.S. Congress to pass the SOX Act.
    • Examine each of the following areas:
      • Governance
      • Auditor independence
      • Disclosure practices
      • Regulation of public accounting firms
    • Do two things for each of these areas:
      • Explain at least 1 provision in the SOX Act to provide expansive regulation to address what was generally seen as systematic failures in each area.

State whether or not you agree that the new provisions dealt with the issues that you think prompted the U.S.

• Develop critical skills by analyzing ethical and legal issues and problems, recognizing and assessing such issues and recommending specific actions to implement your analyses

• Improve oral and written communication skills through class discussions, cases analyses, formal and informal presentations, and group and written assignments

Reference no: EM13173166

Questions Cloud

An effective promotional strategy : An effective promotional strategy does not involve a "cookie cutter" approach. As stated in the text, there is no one right promotion blend for all situations. With this being said, the typical promotional plan should be blended and integrated to acc..
Which formula represents the greatest number of isomers : Which formula represents the greatest number of isomers?
Study of costs of electricity generation : A study of costs of electricity generation for a sample of 56 British firms in 1946-1947 yielded the following long-run cost function: 16AVC = 1.24 + .0033Q + .0000029Q2 - .000046QZ - .026Z + .00018Z2
What is the identity of z : If atoms of element Z have a mass of 0.815 , what is the identity of Z?
Develop critical skills by analyzing ethical and legal issue : Develop critical skills by analyzing ethical and legal issues and problems, recognizing and assessing such issues and recommending specific actions to implement your analyses
At what temperature will the volume of the gas be equal : A gas occupies a volume of 380. ml at 135 °C? At what temperature will the volume of the gas be equal to 535 ml?
Discuss and compare the data consolidation : Discuss and compare the data consolidation and What-If analysis Excel tools. Under what circumstances would you use each of these tools? Do they both serve the same purpose, or is each one used under different scenarios? Give examples of how each can..
Propose the kinds of attractive forces : Propose the kinds of attractive forces that might bind congo red to cotton fabric.
Which one of the following is the highest temperature : Which one of the following is the highest temperature?

Reviews

Write a Review

Financial Accounting Questions & Answers

  The impression one gains

The impression one gains from the internal inconsistency of many of the arguments upon the which justification of conventional accounting, is made to rest is strongly reminiscent of the underlying philosophy of the rulers of Oceania in George Orwell'..

  What amount will be used as the benchmark for determining

Upstream Inter-segment Sales: $180,000 Downstream Inter-segment Sales: $60,000 For purposes of the Revenue Test, what amount will be used as the benchmark for determining whether a segment is reportable?

  Explain how the accounting equation is impacted

A building is purchased for $35,000. (1) Name the accounts impacted and how using the format account name/debit or credit/dollar amount and explain how the accounting equation is impacted.

  What advice would you five henderson before she prepares her

What advice would you five Henderson before she prepares her first capital investment proposal? Explain the role of capital investment analysis in the management process, including the six key steps taken during planning.

  Evaluate the cost assigned to ending inventory

Evaluate the cost assigned to ending inventory and to cost of goods sold using a) specific identifacation, b) weighted average, c) FIFO and d) LIFO

  Provide the proper journal entries

Give the proper journal entries for each of the subsequent occurred in 2011.

  Compute total fraud and negligence penalties incurred

A court found that a portion of that deficiency constituted civil fraud ($80,000). Compute total fraud and negligence penalties incurred. Explain your answer as necessary.

  Illustrate what is the optimal solution to this problem

One would like to minimize the weekly payroll (one can assume that each employee works 8 hours per day). Illustrate what is the optimal solution to this problem?

  Elucidate a business unit performance

Is it ethical to choose a transfer price for tax purposes that is different from the transfer price used to elucidate a business unit's performance?

  Illustrate what is the maximum amount of before-tax salary

Lara's employer has a 40 percent marginal tax rate. Ignoring payroll taxes, illustrate what is the maximum amount of before-tax salary Lara would give up to receive health insurance?

  Are these policies expensive

The group of key personnel has an important impact on an organization. Some companies carry director and officers liability insurance. Are these policies expensive? Why are they necessary?

  Cost allocation theory through cost drivers

Cost allocation theory through cost drivers - Why do they allocate costs anyway in a government (City Government) setting -- aren't cost allocation methods mostly for manufacturing companies?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd