Reference no: EM131001973
Selected sections of the Sarbanes-Oxley Act follow:
Section 1. Short title. This Act may be cited as the "Sarbanes-Oxley Act of 2002" TITLE I-Public Company Accounting Oversight Board
Sec.101. Establishment; Administrative Provisions
Establishment of Board-There is established the Public Company Accounting Oversight Board, to oversee the audit of public companies that are subject to the securities laws, and related matters, in order to protect the interests of investors and further the public interest in the preparation of informative, accurate, and independent audit reports for companies the securities of which are sold to, and held by and for, public investors. The Board shall be a body corporate, operate as a nonprofit corporation, and have succession until dissolved by an Act of Congress.
(a) Duties of the Board-The Board shall, subject to action by the Commission under section 107, and once a determination is made by the Commission under subsection (d) of this section-
(1) register public accounting firms that prepare audit reports for issuers, in accordance with section 102;
(2) establish or adopt, or both, by rule, auditing, quality control, ethics, independence, and other standards relating to the preparation of audit reports for issuers, in accordance with section 103;
|
Record the transactions-using t-accounts
: Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. The company paid cash.
|
|
Record the transactions-using t-accounts
: Mike Szabo Company engaged in the following transactions during the month of December: December 2 Made credit sales of $4,000 (accepted accounts receivable).
|
|
Compute the loss on each remaining policy for second year
: What is the loss on each remaining policy for the second year, assuming All of the healthy policyholders at age 51 lapse the policy at that time, and none of the unhealthy ones do.
|
|
Scales or proportional securities regulation
: The report indicates that a scales or proportional securities regulation for smaller public companies assures the full benefits and protection of federal securities regulation for investors in large companies that make up 94% of the total public U..
|
|
Selected sections of the sarbanes-oxley act
: Establishment of Board-There is established the Public Company Accounting Oversight Board, to oversee the audit of public companies that are subject to the securities laws,
|
|
Accounting procedures are in the form of ritual
: Assume that accounting procedures are in the form of ritual. Does this imply that the accountant's product does not serve a useful function? Discuss.
|
|
Find the single premium
: If death occurs in the second year, insured will receive at time 2 only a return of the single premium paid without interest. Suppose q70 = 0.36, q71 = 0.40, and the interest rate is 100%. Find (a) the single premium, (b) 1V.
|
|
Determine income on an accrual basis
: a. Determine income on an accrual basis. b. Determine income on a cash basis.
|
|
Development of generally accepted accounting principles
: Certain underlying considerations have had an important impact on the development of generally accepted accounting principles. Following is a list of these underlying considerations, as well as a list of statements describing them.
|