The U.S. Sarbanes-Oxley Act requires evaluation of how public companies implement financial reporting controls. Many companies prepare a risk control matrix to assess risk. Preparing a risk control matrix can help identify pertinent data and often identifies the risks, controls, and monitoring methods to help ensure accurate financial reporting. Based on your employer, prepare a risk control matrix for a particular area within your company. For example, a risk control matrix regarding the filing of corporate taxes. Create a professional memo of 3-4 pages communicating this profile to the organization's board of directors, including details of the risk and your recommendations for a system of control. Be sure to identify within the memo the strengths and weaknesses of your recommended system.© BrainMass Inc. brainmass.com June 4, 2020, 5:12 am ad1c9bdddf
The response addressed the query is posted in 914 word with references
To: Board of Directors of ABC Corporation
From: Employee of ABC Corporation
Date: June 5, 2015
Subject: Evaluation of various issues by the Sarbanes-Oxley Act to Implement Financial Reporting Control system in HSBC bank in the banking industry.
//The banking industry plays an important role in the present scenario and has experienced a constant growth and development than the other operating industries of the world. The paper highlights the issue and its solutions, being evaluated by the Sarbanes-Oxley Act, to implement an effective financial control system in the public organisation of the banking industry //
The memorandum aims to provide information to the Board of Directors of ABC Corporation, to know about the issues that are being evaluated by the Sarbanes-Oxley Act and implement an effective financial control system in the public organization of the banking industry. The subject of the memo is to discuss the issue, and its solutions related to the implementation of financial reporting controls in public companies, introduced by the employee of ABC Corporation. The U.S. Sarbanes-Oxley Act requires the evaluation of the way public companies implement financial reporting controls in their organizations (Fletcher & Plette, 2008). Many public sector companies prepare a risk control matrix to assess the risk, which helps them to identify the pertinent data and often identifies the risk, control and monitoring methods to ensure accurate financial reporting. Industries in the banking sector include the implementation of various Acts to promote a fair financial structure. ...
The response addressed the query is posted in 914 word with reference