Case Study Accounting Keller Fi504

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

Nevertheless, Sarbanes-Oxley Act seems to be working well, as some chief accounting officers and pay chiefs keep noned: the new requirements triggered comprehensive reviews of how companies muniment 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 give investors aver and gives them more confidence. The Public Company Accounting circumspection b! oard (PCAOB) was also created as a result of the Sarbanes-Oxley Act. umteen 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 pass judgment 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, battle array it on our website: OrderCustomPaper.com

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