Section 404 of the Sarbanes-Oxley Act requires companies to perform self-assessments of risks for business processes that

Question:

Section 404 of the Sarbanes-Oxley Act requires companies to perform self-assessments of risks for business processes that affect financial reporting. What are some business processes that could result in risks affecting financial reporting?

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

Step by Step Answer:

Related Book For book-img-for-question

Forensic Accounting and Fraud Examination

ISBN: 978-0078136665

2nd edition

Authors: William Hopwood, george young, Jay Leiner

See More Books

Question Posted: Mar 20, 2015 11:48 AM

See More Questions

The Sarbanes Oxley Act requires companies to document their business processes and internal controls. Evaluate how each of the flowcharts presented in the text document system and program may fulfill...
The Sarbanes Oxley Act of 2002 (SOX) has important implications for the financial community. Explain two implications of SOX.
What are some ways that partnerships could share income among the partners? (Appendix)
If the Stock Dividends < 25%, recorded at fair market value. If the Stock Dividends > 25%, recorded at book value. Example1: Velvet Company has 5,000 shares issued and outstanding. Par value is $1;...
Is there a significant difference in calories between servings of strawberry and vanilla yogurt? Based on the data shown in the table, test an appropriate hypothesis and state your conclusion. Don't...
List the metabolic products of pyruvate metabolism in animals. Include the pathway involved and, where appropriate, the key regulatory enzyme that commits pyruvate to that pathway. Fate Pathway Key...
A model for a hemodialyser with simulation of the patient-artificial-kidney system: a case-study problem. A useful case study is the paper by Ramachandran and Mashelkar (1980), where a mesoscopic...
Tatum Company has four products in its inventory. Information about the December 31, 2018, inventory is as follows: Required: 1. Determine the carrying value of inventory at December 31, 2018,...
Suppose that next year you observe a higher equilibrium price but note that the equilibrium quantity of bagels sold is unchanged. What changes to the price of a donut and the price of flour could...
K Ltd. paid an employee a tax-free travel allowance of $5,200 based on 9,000 kilometres of out-of-town driving. What amount can K deduct for tax purposes?
Contrast and compare the role of the following: a. The internal auditor. b. The external auditor. c. The external forensic accounting consultant in an external audit.
List and explain the most important skills required of forensic accountants.
Let h be the linear map defined by this matrix on the domain P1 and codomain R2 with respect to the given bases. What is the image under h of the vector = 2x - 1? 1 2 2 1 B (1 + x,x), D
Explain why understanding the goals of delivering bad news are important to a business?
in Pavan Sukhdev's video "Put Value on Nature", he calls for change in our accounting systems to truly account for the costs of production. Do you think this is realistic? What value would obtain...
Provide a brief overview of the primary objectives of compilation, review, and preparation engagements under SSARS. Describe the task objectives that differentiate one SSARS engagement from another....
Determine the PBC items required for a direct examination engagement . Determine the PBC items required for a review engagement . Justify why the required items are necessary for a direct examination...
Describe the elements of a compilation engagement that should not be included in a review engagement. Compare the limitations of the level of service for each SSARS engagement type. Recommend the...
The boiling point of o-xylene at 1 bar is 139 C. a) What is the state of o-xylene at 0.1 bar, 200 C? b) 100 moles of o-xylene are to be loaded in a tank at 0.1 bar, 200 C. What is the required volume...
a. Determine the domain and range of the following functions.b. Graph each function using a graphing utility. Be sure to experiment with the window and orientation to give the best perspective of the...
How does the civil law differ procedurally from the criminal law?
According to this chapter, what employment trends are expected for professionals in the fields of fraud examination and financial forensics? Why?
What employment opportunities currently exist for fraud examiners and financial forensics specialists?
What role do fraud examination and financial forensic skills have in the corporate governance area?
Develop a SWOT analysis of Coles potential business. b. Can Cole be profitable and if so, in what period of time? c. What are the major business assumptions that require verification? d. Does Cole,...
The current temperature is 12 oC and the dew point is -29 oC. What is the relative humidity in percentage? Answer to one decimal place. The current temperature is 12 oC and the dew point is -29 oC....
The density of the block depends on what material the block is made out of. The table below shows the average densities for 3 different kinds of Earth materials. Using these data, calculate the...

Section 404 of the Sarbanes-Oxley Act requires companies to perform self-assessments of risks for business processes that

Question:

Step by Step Answer:

The accounting system itself is a business process Poor secur...View the full answer

Forensic Accounting and Fraud Examination

Students also viewed these Accounting questions