1. According to a McKinsey Study, investors in North America and Western Europe will pay a premium of 14 percent for companies with good governance
2. The difference in stock market value for companies that had good internal controls versus those that did not is 33 percent.
3. AMR Research predicted that companies would spend $29.9 billion […]
Popularity: 23% [?]
1. Depositing cash and reconciling bank statements
2. Approving time cards and distributing paychecks
3. Preparing an order and changing a billing document
4. Changing an order and creating a delivery
5. Creating a journal entry and opening a closed accounting period
6. Creating general ledger accounts and posting journal entries
7. Maintaining accounts receivable master data and posting receipts
8. Maintaining […]
Popularity: 18% [?]
1. A better control environment, where executives set the tone for ethical behavior and employees follow suit
2. Facing the mountain of documentation required by SOX means making improvements to procedures and employees’ understanding of these procedures
3. The Audit Committee takes its role seriously
4. Functions converge, processes become streamlined and standardized
5. The reduction of needless complexity
Popularity: […]
Popularity: 14% [?]
To date, the PCAOB and external auditors reviewing compliance with Sarbanes-Oxley have been attentive primarily to security, change management, and problem management. A key focus for the audit is integrity of the technology infrastructure for processing, storage, and communication of financial data. This is especially true when financial reports are generated from a data warehouse […]
Popularity: 17% [?]
302: The CEO and CFO are directly responsible for the accuracy, documentation, and submission of all financial reports, as well as the internal control structure to the SEC.
(Translation: The CEO and CFO are on the hook for making sure the company’s financial reports sent to the US Securities and Exchange Commission are right. We talk […]
Popularity: 22% [?]