Purchase Solution

Governance, Accounting, and Auditing Reform

Not what you're looking for?

Ask Custom Question

What are the three most important improvements in the governance structure that could result from SOX?

Purchase this Solution
Solution Summary

The solution describes three improvements to corporate governance derived from Sarbanes-Oxley legislation. This solution is 287 words.

Solution Preview

The three most important improvements in the corporate governance structure that could result from Sarbanes Oxley involve executive certification of sufficient internal controls and the accuracy of reported financial documents (accountability of the C-suite), the separation of duties stemming from the requirement that external auditors be independent of other duties, and the implementation of additional internal controls to help prevent fraud.

Prior to SoX, ...

Purchase this Solution
Free BrainMass Quizzes
Understanding Management

This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.

Paradigms and Frameworks of Management Research

This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.

IPOs

This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)

Motivation

This tests some key elements of major motivation theories.

Situational Leadership

This quiz will help you better understand Situational Leadership and its theories.

View More Free Quizzes
Related BrainMass Solutions

  • Objectives and Scope of Internal Auditing

    489533 Objectives and Scope of Internal Auditing What are the Objectives of internal auditing? Is Scope of Internal auditing limited to accounting only? Internal auditing What is the objective of internal auditing?

  • Auditor Duties

    In addition to this, firms should also use reputed audit agencies for auditing to prevent this issue (Krivogorsky, 2011). References Krivogorsky, V. (2011). Law, Corporate Governance and Accounting: European Perspectives.

  • The Enron bankruptcy of 2001

    existing accounting, auditing and commercial authority practices.

  • Paper Outline & Sources - Effectiveness of SOX

    officially name the Public Company Accounting Reform and Investor Protection Act of 2002 went into existence in July of 2002.

  • organizations doing Internal auditing

    The GAO performs the task of accounting and auditing for Congress.

  • Communication and Auditing

    Disagreements with management as to accounting principles. ? Auditing procedures, or other similarly significant matters. ? Communications to those charged with governance regarding fraud and illegal acts by clients. ?

  • The Audit Committee and Corporate Governance

    Sincerely, Your OTA The article is about one of the most important aspect of corporate governance: the Audit Committee's role in providing an objective monitoring and overseeing of the accounting and financial matters of the organization as well

  • Impact of Sarbanes-Oxley Act

    The official name of the Sarbanes-Oxley Act is the Public Company Accounting Reform and Investor Protection Act, and its main goal was to deal with issues related to the auditing of publically-held companies in the United States, which many believed was

  • EU audit reforms 2013

    A higher level of accountability will increase the reliability of accounting. Increased transparency as required by the reforms will also increase the reliability of the auditing.

View More Related Solutions