SEC280 Laws and Ethics Discussions

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SEC280 Laws and Ethics Discussions
Ethical issues in corporate governance now influence security issues through the stricter…

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SEC280 Laws and Ethics Discussions

SEC280 Laws and Ethics Discussions

Week 2 All Students Posts 13 Pages 

Ethical issues in corporate governance now influence security issues through the stricter management controls surrounding corporate financial-data integrity under Sarbanes-Oxley. Let’s discuss these issues.

From a company perspective, I think the two most positive things that came from Sarbanes-Oxley are (1) the required attestation by the CEO and the CFO; and (2) better internal control procedures and documentation.

While the CFO’s responsibilities for financial reporting always seemed clear, even that was more implicit than explicit in some companies. And adding the CEO’s sign-off means that he or she will insist on a rigorous process to ensure the highest possible quality of reporting.

With respect to internal controls, even those companies that considered themselves to be very well controlled prior to Sarbanes-Oxley found that documentation often was weak or that some parts of the system needed improvement. By now, most of that effort has become relatively routine but having strong controls is still essential if a company wants to ensure that it achieves its objectives…