SOX Compliance ee) cli) le Nese Comprehensive High-Quality testing Documentation Identifications of procedures of the test procedures shortcomings Every hitch is referenced to the related paper, providing evidence and remediation for the deficiencies Helps To verify Data organized , whether controls documented, and are operating accessible for SOX effectively auditors Background: In the wake of financial scandals in the early 2000s, the Sarbanes-Oxley Act (SOX) was enacted to enhance corporate governance and accountability. One of the key requirements of SOX is the implementation of integrated audits for publicly traded companies, which combine financial statement audits with internal control assessments. This approach aims to provide greater assurance regarding the accuracy and reliability of financial reporting. Scenario: You are an internal auditor for a publicly traded company, XYZ Corp, which has recently faced challenges regarding its financial reporting and compliance with SOX requirements. The company has implemented an integrated audit approach, and you are responsible for reviewing the effectiveness of this process. During your review, you discovered several issues related to the documentation of audit evidence, compliance with SOX provisions, and the overall reporting process. Based on the case above prepare your Final Paper and answer the following questions: 1. Audit Review Analysis: Assess the effectiveness of XYZ Corp's integrated audit process. What specific areas of audit evidence collection and reporting do you believe require improvement? Provide examples of how deficiencies in these areas could impact financial reporting and compliance with the Sarbanes-Oxley Act. 2. Integrated Audit Evaluation: Discuss the key components of an integrated audit. How do these components align with the requirements of the Sarbanes-Oxley Act? Analyze the benefits and challenges of implementing an integrated audit framework in the context of XYZ Corp. 3. Audit Evidence and Reporting: Critically evaluate the importance of quality audit evidence in supporting the auditor's opinion on the financial statements. What types of evidence should XYZ Corp prioritize to ensure compliance with SOX? Discuss how the nature of this evidence can influence the audit reporting process. 4. Recommendations: Based on your analysis, propose actionable recommendations for XYZ Corp to enhance its integrated audit approach, improve audit evidence collection, and ensure compliance with the Sarbanes-Oxley Act. Justify your recommendations with references to best practices in auditing and relevant sections of SOX