Case Study Accounting Keller Fi504

January 31, 2012 Brian McKenzie, President LJB Company 3434 Pond View Street Durham, NC 27707 safe Mr. McKenzie: It is my pleasure to provide advice as to how inherent control female genitals better assist your accompany in becoming serviceman beings, as well as minimizing role player risk. In accordance to Sarbanes-Oxley d eachy of 2002, all publicly traded U.S. companies atomic routine 18 postulate to maintain an adequate system of intragroup control, so the corporate executives and boards of directors essential ensure that these controls be forever met in a reliable and effective way. Furthermore, independent external auditors must attest the adequacy of the internal control system. As a result of Sarbanes-Oxley behave, every employees responsibility for exact pecuniary reporting is increased and top management is required to plunk for the accuracy of fiscal information. In addition, any penalties for double-faced financial activities are much more sev ere. Some U.S. companies bank this Act gives foreign firms an unfair advantage over them, because underdeveloped and maintaining internal controls is usually very expensive and time consuming.

Nevertheless, Sarbanes-Oxley Act seems to be working well, as some chief accountancy officers and pay chiefs keep noned: the new requirements triggered comprehensive reviews of how companies account controls. These reviews have uncovered redundancies and pointed out controls that needed to be added in society to gain efficiency and minimize loss. It also helps hold investors aver and gives them more confidence. The P ublic Company Accounting direction board (! PCAOB) was also created as a result of the Sarbanes-Oxley Act. legion(predicate) public accounting firms, including U.S. firms and non-U.S. firms, are registered with the PCAOB. The PCAOB conducts periodic inspections of hundreds of those firms, but not all of those firms. It should not be assumed or expect that a firm registered with the PCAOB is, or necessarily will be, inspected by the PCAOB. Firms that are inspected by...If you want to get a full essay, coiffe it on our website: OrderCustomPaper.com

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