Please illustrate the relationship between ethics and internal control techniques.
Can you please describe in detail the importance of the Sarbanes-Oxley Act?© BrainMass Inc. brainmass.com June 3, 2020, 5:13 pm ad1c9bdddf
Here is the information I found. I hope it helps.
<br>Please illustrate the relationship between ethics and internal control techniques.
<br><br>Internal control means different things to different people. This causes confusion among businesspeople, legislators, regulators and others. Resulting miscommunication and different expectations cause problems within an enterprise. Problems are compounded when the term, if not clearly defined, is written into law, regulation or rule.
<br><br>This report deals with the needs and expectations of management and others. It defines and describes internal control to:
<br><br>Establish a common definition serving the needs of different parties.
<br><br>Provide a standard against which business and other entities--large or small, in the public or private sector, for profit or not--can assess their control systems and determine how to improve them.
<br><br>Internal control is broadly defined as a process, effected by an entity's board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in ...