The 8 Purposes of the Sarbanes Oxley Act
What is the purpose of Sarbanes Oxley Act? putting auditor department busy every day? or added many task for your operation departments? here some of purpose of the Sarbanes Oxley Act.
- Avoid financial fraud and misleading of financial reporting
- Increase company internal control
- Promotes standards and approaches for documentation, control design evaluation, and control effectiveness testing
- Establishes and applies a consistent internal control framework for assessing risks and formulating appropriate control objectives and activities
- Continuously monitors the organization’s state of compliance
- Promotes sustained compliance through training and awareness
- Incorporates communication protocols to keep executive management and the board of directors informed about internal control issues and remediation efforts
- Considers the deployment of suitable technology to facilitate the achievement of the above attributes
Any others suggestions?
Popularity: 48% [?]
