Describe the Key Provisions of the Sarbanes-Oxley Act.

Q: Discuss three general provisions of the Sarbanes-Oxley Act.

A: Sarbanes-Oxley Act (SOX) is a legal framework that requires corporate chiefs to ensure the precision…

Q: What are the responsibilities of an originator?

A: The originator's responsibilities are: Originator communicates with all borrowers of mortgage loans…

Q: They apply to

A: Examples of like-kind properties: The like-kind properties should include assets that fall under the…

Q: Describe the purpose of the AICPA. What is the AICPA’s primary function?

A: The American Institute of CPA (AICPA) is a non-profit organization of Certified Public Accountants…

Q: Explain when you would issue a reservation of rights?

A: A reservation of rights is generally issued by insurance companies.

Q: Explain principal (agency relationships)

A: Answer: Agent: An agent is one who provides work on principal’s behalf.  Principal approves agent to…

Q: Provide the pros and cons of Sarbanes –Oxley Act (SOX).

A: Pros of Sarbanes Oxley Act 1. Crucial information cannot be witheld from customers By requiring that…

Q: What are the two prerequisites for the application of EAC

A: The Answer is about the two prerequisites for the application of EAC:

Q: The Sarbanes-Oxley Act requires the following?

A: Sarbanes-Oxley Act is formulated during 2002 under US federal law. The prime purpose of the act is…

Q: which is the primary source of SEC independence rules

A: The primary SEC sources that auditor independence for issuance are

Q: 3. What are the major components of The Sarbanes-Oxley Act?

A: Sarbanes Oxley Act is Act establishment by United States in order to protect the interest of the…

Q: Define agency relationship

A: Agency relationship is the part of business law where it is a legal relationship between the two…

Q: The document which sets out basic rules for how a compay is to run?

A: Every company operating as a limited liabilities corporation, partnership firm, or public company…

Q: What are the goals of the SEC?

A: Securities and Exchange Commission (SEC): SEC is a governmental agency that has the legal power, for…

Q: Describe the mission of the FASB.

A: Financial Accounting Standards Board (FASB): FASB is an independent 7 member board, of accounting…

Q: Describe about the Options, Warrants, and Rights.

A: Options are the type of issue of securities to the existing shareholders or employees of a company…

Q: What is the purpose of the Maceda Law?

A: The Maceda Law, also known as The Realty Installment Buyer Act or Republic Act 6552 is the law that…

Q: Define bylaws

A: An organization's Bylaws are the core values the association works under.

Q: Discuss the scope and penalties of Sarbanes Oxley Act.

A: The Sarbanes Oxley Act or the SOX was brought to force as a response to the substantial increase in…

Q: agency problem

A: The concept of Agency is established between two persons, i.e. a principal and an agent. The…

Q: ease with the following provisions: 'IL

A: Here asked for Multi sub part question we will solve for first question for you.  If you need…

Q: Define regulation D

A: The Accounting Standards are specific set of principles and procedures set by the authorized bodies…

Q: Why was the Sarbanes-Oxley Act developed and enacted?

A: Introduction:- The Sarbanes–Oxley Act of 2002 is a federal law in the United States that sets…

Q: Summarize what are the MACRS guidelines?

A: The MACRS (Modified Accelerated Cost Recovery System) is the current tax depreciation system in the…

Q: The FHA implements its programs with which of the following procedures?

A: FHA has been successful in stabilizing the national housing market. It was created under the federal…

Q: What is an agency problem?

A: Agency problems also known as principal-agent problems  are conflicts of interest between managers…

Q: Describe how options, rights, and warrants are incorporated in the calculation of EPS.

A:

Q: hat are the Sarbanes-Oxley Act and GAAP?

A: In order to reduce the fraud in corporations while recording financial transitions or preparing…

Q: What is understood by Incorporation by reference?

A: Securities and Exchange Commission (SEC):   The board which set rules for the companies for…

Q: Define charter

A: Introduction: Charters are legalized documents that lawfully set up corporate companies. Only…

Q: The law "Sarbanes-Oxley" came about as result of

A: A Sarbanes-Oxley law made t to protect investors by improving the accuracy and reliability of…

Q: Describe the primary roles of the PCAOB.

A: PCAOB indicates to a non-profit organization stated in US and set up by Sarbanes-Oxley Act in…

Q: Governance issues include the following except;

A: The corporate governance represents the rules and practice by which the company would be controlled…

Q: What transaction is covered by Maceda Law?

A: MACEDA LAW is also known as REALTY INSTALLMENT BUYER ACT, was approved in 26th August 1972 to…

Q: What is the purpose of the IPSASB and what are the reasons for its establishment?

A: This question tells about the purpose of the IPSASB and what are the reasons for its establishment .

Q: Define civil law

A: Introduction: Civil law is a form of rules that govern usual private substances, distinct from laws…

Q: For what purpose Form 2553 is required?

A: Form 2553   By completing IRS Form 2553, Election by a Small Business Corporation, businesses…

Q: What Is Section 1031? A brief explanation on this?

A: Answer : Section 1031 Provision of Internal Revenue Code Allows the Owners of Investment Property…

Q: Explain the Key Provisions of the Sarbanes-Oxley Act.

A: Due to a lot of financial scandals which occurred in the early 2000s particularly Enron Scandal,…

Q: What is the purpose of the FASB’s conceptual framework?

A: