Notice: Payments for answers will end 4/10/2017. Click for more info.
You have new items in your feed. Click to view.
Question and answer
Q: How have the new rules in the Sarbanes-Oxley Act of 2002 affected the way accounting departments and companies operate? What are some positive outcomes from these changes?
A: The Sarbanes-Oxley Act of 2002 was passed in response to a number of major corporate and accounting scandals involving prominent companies in the United States. [ [ These scandals resulted in a decline of public trust in accounting and reporting practices. The Sarbanes-Oxley Act's major provisions include: - Certification of financial reports by chief executive officers and chief financial
officers - Ban on personal loans to any Executive Officer and Director - Accelerated reporting of trades by insiders - Prohibition on insider trades during pension fund blackout periods - Public reporting of CEO and CFO compensation and profits - Additional disclosure - Auditor independence, including outright bans on certain types of work and pre-certification by the company's Audit Committee of all other non-audit work - Criminal and civil penalties for violations of securities law - Significantly longer jail sentences and larger fines for corporate executives who knowingly and willfully misstate financial statements. - Prohibition on audit firms providing extra "value-added" services to their clients including actuarial services, legal and extra services (such as consulting) unrelated to their audit work. - A requirement that publicly traded companies furnish independent annual audit reports on the existence and condition (i.e., reliability) of internal controls as they relate to financial reporting. ] ]
sharpies|Points 8787|
Question
Asked 2/19/2013 2:18:03 PM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
25,789,403 questions answered
Popular Conversations
Aristotle was a student of Plato's. True False
Weegy: Aristotle was a student of Plato's. TRUE.
7/9/2017 6:34:10 PM| 1 Answers
Most collisions are caused by __________ A. drivers falling asleep at ...
Weegy: Most collisions are caused by driver's attitude.
7/9/2017 4:51:29 PM| 1 Answers
k2 + 3k + 2 = (k2 + k) + 2 ( __________ )
7/8/2017 8:58:45 AM| 1 Answers
Parasite can be Protozoa,fungi, or multicellular organisms. TRUE or ...
Weegy: Parasites can be protozoa, fungi, or multicellular organisms. TRUE.
7/7/2017 6:41:18 PM| 1 Answers
Development disabilities cannot be cured. TRUE or FALSE.
Weegy: Developmental disabilities cannot be cured. TRUE.
7/7/2017 6:00:57 PM| 1 Answers
. Classification of living things takes into consideration all of ...
Weegy: Classification of living things takes into consideration all of the following except: presence of cell ...
7/5/2017 12:07:33 PM| 1 Answers
What type of disorder is myasthenia gravis? A. Inflammatory ...
Weegy: Myasthenia gravis is a type of immune disorder. User: What surgical procedure involves breaking an ankylosed ...
7/5/2017 9:35:49 AM| 1 Answers
The lungs are the primary organ of the: digestive system respiratory ...
Weegy: The lungs are the primary organ of the: respiratory system. User: Endorphins are manufactured by the brain to ...
7/5/2017 6:54:42 AM| 1 Answers
During puberty you need more food and _____ to grow. oxygen carbon ...
Weegy: During puberty you need more food and oxygen to grow. User: Each cell in your body contains chromosomes.
7/5/2017 6:43:00 AM| 1 Answers
The condition of equilibrium that results in the displacement of the ...
Weegy: The condition of equilibrium that results in the displacement of the mantle by the continental and oceanic crust ...
7/10/2017 1:50:08 PM| 0 Answers
What is another name for the Circum-Pacific Belt? A. Pacific Ring ...
Weegy: Pacific Ring of Fire is another name for Circum-Pacific Belt
7/10/2017 1:47:35 PM| 0 Answers
Weegy Stuff
S
Points 29 [Total 30] Ratings 0 Comments 9 Invitations 2 Offline
S
Points 10 [Total 10] Ratings 0 Comments 0 Invitations 1 Offline
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 0 Comments 0 Invitations 1 Offline
S
Points 4 [Total 4] Ratings 0 Comments 4 Invitations 0 Offline
S
P
P
L
P
P
P
Points 4 [Total 1734] Ratings 0 Comments 4 Invitations 0 Offline
S
Points 3 [Total 3] Ratings 0 Comments 3 Invitations 0 Offline
S
Points 2 [Total 2] Ratings 0 Comments 2 Invitations 0 Offline
S
Points 2 [Total 2] Ratings 0 Comments 2 Invitations 0 Offline
S
Points 2 [Total 2] Ratings 0 Comments 2 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.