Is the SOX-driven effort being made to check on the effectiveness of internal control systems worth the

Question:

Is the SOX-driven effort being made to check on the effectiveness of internal control systems worth the cost? Why, and why not?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Business and Professional Ethics

ISBN: 978-1285182223

7th edition

Authors: Leonard J. Brooks, Paul Dunn

See More Books

Question Posted: Oct 28, 2014 08:04 AM

See More Questions

Explain the following:"The effectiveness of internal control over financial reporting requires an integrated analysis of the COSO control components to reduce the residual risk to an acceptable...
SOX and COSOs Internal Control Frameworks Required a. Explain what the acronym SOX refers to. b. Define the acronym COSO and explain how it relates to SOX. c. Name and briefly define the five...
Why is the COSO report on internal control systems important under requirements of the Sarbanes-Oxley Act?
Which market segments are the most favorable for Hyundai card? Does the company do an effective job of targeting and reaching those segments? If so, How? If not, why not?
The Tufte family leased a 260-acre farm from the Travelers Insurance Co. Toward the end of the lease, Travelers mailed the Tuftes an option to renew the lease. The option arrived at the Tuftes' house...
In the ohmmeter in Fig. M is a 2.50-rnA meter of resistance 65.0 Ω. (A 2.50-. mA meter deflects full scale when the current through it is 2.50 mA.) The battery B has an emf of 1.52 V and...
Acetone is evaporating in a mixture of nitrogen and helium. Find the rate of evaporation and compare it with the rates in pure nitrogen and pure helium. Also compare it with the model using a...
A consulting project involved a credit card bottom feeder (lets call it Credit Wonder). This company bought credit card accounts that were written off as uncollectable debts by major banks. Credit...
The magnitude of operating leverage for Forbes Corporation is 2.5 when sales are $170,000 and net income is $21,000. If sales increase by 5%, what is net income expected to be?
The wave functions p x and d xz are linear combinations of the spherical harmonic functions, which are eigenfunctions of the operators H, l 2 , and l z for rotation in three dimensions. The...
How can a corporation integrate ethical behavior into their reward and remuneration schemes?
Why should an effective whistle-blower mechanism be considered a failsafe mechanism in SOX Section 404 compliance programs?
Assume the role of an IT manager: To the extent that you can, evaluate online application offerings by Google, Microsoft, Apple, and rivals. In your opinion, are these efforts ready for primetime?...
Which route of administration brings on a cocaine "rush" the fastest? O dermal patch O rectal suppository O swallowing a pill or tablet OIV administration smoking
17.2B The reaction 2NO(g) + Br2 (g) = 2NOBr (g) has a Ko value of 1.3 x 10-2 at 1000 K. Calculate K. for the following reactions: (a) 4NOBr (g) = 4NO (g) + 2Br2 (g) (b) NO(g) + Br (g) = NOBr (g)
5. A rigid square sheet of glass of side 1 metre is supported at its corners on four identical stiff linear-elastic springs. A 100 N vertical force is applied to the plate at the location shown in...
Decide if the following substances are elements, compounds, or mixtures. Au A: Element B: Compound OC: Mixture copper A: Element OB: Compound OC: Mixture salt and pepper A: Element B: Compound OC:...
A boundary layer grows on the wall of a wind tunnel test section, downstream of some flow straightening honeycomb. The boundary layer that develops on the wall is measured to be laminar, and of...
For the laminar flow reactor problem given in Example 22.6, determine the volume of the reactor needed to obtain a conversion of 95%. Example 22.6 Using the results from Example 22.4, Part (b),...
Let X be a random variable taking on values a1, a2, . . . , pr with probabilities p1, p2, . . . , pr and with E(X) = μ. Define the spread of X as follows: This, like the standard deviation, is a...
An investment policy statement that includes a return objective of outperforming the FTSE 100 by 120 basis points is best characterized as having a(n): A. Relative return objective. B. Absolute...
Explain the regulatory life cycle approach to political activism. Differentiate it from contingency approaches.
Discuss the Bipartisan Campaign Reform Act and its likely effect on future elections. What further types of campaign financing reform would you recommend?
Discuss efforts by companies to circumvent governmental regulations. Is the use of legal loopholes ethical?
Jackie Co., a 90% owned subsidiary of Nick Inc., sold land to Nick on May 1, 2024, for $80,000. The land originally cost Jackie $85,000. Jackie reported net income of $200,000, $180,000, and $220,000...
The most recent financial statements for AppleBanana Co. are shown here: Income Statement Sales Costs Balance Sheet $ 200,000 130,000 Current assets Fixed assets $ 120,000 280,000 Debt Equity $...
With reference to the characteristics and performance of the human visual system, provide an estimate for each of the following. In each case you are expected to justify your estimate: (i) the...

Is the SOX-driven effort being made to check on the effectiveness of internal control systems worth the

Question:

Step by Step Answer:

The SOX governance reforms and the ensuing SEC internal control certificatio...View the full answer

Business and Professional Ethics

Students also viewed these Organizational Behavior questions