What are the responsibilities of management described in Section 404 of the Sarbanes-Oxley Act? What are the responsibilities of the company’s auditor?

Q: How have provisions of the Sarbanes–Oxley Act limited a public company’s choice of auditors?

A: SOX is the act passed by the government to address the corporate scandals. This act regulates and…

Q: Who has responsibility for internal control in an organization? According to guidelines set forth in…

A: Sarbanes Oxley Act: In order to protect the rights of an investor from fraudulent practices by the…

Q: t o

A: The End product of an Audit is a report expressing the Auditor's Opinion on the client's financial…

Q: What are the ethical and professional expectations for CPA's by the accounting prefession?

A: Auditors work on behalf of shareholders and various other stakeholders; whereas, they are required…

Q: What do the ASX Corporate Governance Principles say about having an internal audit function?

A: Internal audit is the auditing process of the internal processes of a company such as accounting,…

Q: Why would a company hire internal auditors if they already have an external auditor?

A: Internal audit is the internal department of the organization which performs checks to ensure…

Q: What is the “special function” that auditors perform? Whom does the public accounting profession…

A: Auditing:   It is an independent examination of the financial information of an organization to test…

Q: What is a law, such as the Sarbanes–Oxley Act of 2002, under which auditors have obligations?

A: The Sarbanes–Oxley Act of 2002 is a federal Law that established Sweeping Auditing and finance…

Q: understanding of the entity’s internal control

A: The understanding of internal control is necessary to rule out the possibility of material…

Q: Explain the steps that should be taken by an internal accountant/CMA when there is a difference of…

A: When the CMA has difference in opinion between with one's supervisor regarding an accounting or…

Q: or in the implementation of cor

A: Auditing plays a key role in Corporate Social Responsibility (CSR) and corporate governance.…

Q: roles of directors of the company and the role of auditors using the categories

A: Roles of Directors of the Company To choose the directors of the firm is vested in the hands of the…

Q: What is the auditor’s responsibility for obtaining anunderstanding of internal control? How does…

A:

Q: The Sarbanes-Oxley Act (SOX) mandates which of the following? a. Increased regulations related to…

A: Sarbanes-Oxley Act: This is the act passed by the government for safeguarding investors from…

Q: Describe the provisions of the Sarbanes–Oxley Act as they relate to the creation and…

A: The Sarbanes-Oxley Act is a federal law established to uphold and ensure strict auditing and…

Q: How have the Sarbanes–Oxley Act's requirements impacted a public company's ability to choose its…

A: This question explains about the Sarbanes–Oxley Act's requirements impacted a public company's…

Q: What additional constraints and obligations do auditors face when doing nonaudit services for public…

A: Audit: The auditing process is the examination of financial statements for conformity.

Q: Why do you think the SEC requires companies to disclose fees paid to independent accountingfirms for…

A:

Q: What are the main issues to be addressed in a business code of ethics required by the Securities and…

A: Definition: Ethics can be defined as conduct adopted by an individual in making the selection…

Q: Most companies are required to have an audit and appoint an auditor. (a) Explain how an auditor can…

A: Introduction: An auditor verifies the accuracy of recorded business transactions. Auditors are…

Q: An internal auditor is primarily responsible to: a. The Customers b. The Management c. The Creditors…

A: Audit is the review and examination of books of account and financial information of the business in…

Q: What term is used to describe broadly to the manner in which an organization is governed or managed…

A: Corporate governance refers to the set of rules, procedures, systems, processes designed for the…

Q: opines on the professional responsibilities of the accountant in his practice of accounting and…

A: Professional Responsibility of Accountant: An Accountant assists organizations in making key…

Q: What is the importance of Ethics for the Accounting

A: Ethics can be defined as a set of moral principles existing in a society that allows differentiating…

Q: What is the difference between an auditor and accountant?

A: Accounting: Accounting is recording of day to day financial transactions of the business in order to…

Q: Who among the following professionals is assigned the task of internal auditing in the company? a.…

A: A managing director is a person who manages all the functions of the organisations and keeps an…

Q: To what extent do auditors contribute to the smooth functioning of a company? Using appropriate…

A: Auditing: Cross-checking financial records with physical inventory and other data is called…

Q: How does computerized accounting information systems affect an accounting professional’s ethical and…

A: Accounting information system ((AIS) refers to having a system in which all the business…

Q: What additional constraints and obligations do auditors face when offering nonaudit services to…

A: The following is an explanation of what we mean by the Audit: A company's financial accounts are…

Q: What are the responsibilities of the Board of Directors for the financial statements? Or…

A: Financial statements are important because they provide vital information related to the financial…

Q: What are theresponsibilities of the company’s auditor?

A: An auditor is an independently qualified person who is appointed to give shareholders an…

Q: What is the SEC’s relationship to the Public Company Accounting Oversight Board?

A: The Sarbanes-Oxley Act created the Public Company Accounting Oversight Board to supervise the…

Q: Why do we need internal, external and government auditor in a company?

A: An auditor is a person who is authorized to review and verify the correctness of financial documents…

Q: What is the impact of being registered with the Public Company Accounting Oversight Board?

A: The Public Company Accounting Oversight Board (PCAOB) refers to a non-profit organization that was…

Q: which one is not the responsibility of management towards auditor.

A: As per ISA 210 ( Agreeing to the terms of audit engagement )  Preconditions of an audit include…

Q: How does the role of a traditional accountant differ from internal and external auditor?

A: External auditor is appointed for the examination of financial records of the entity and for…

Q: What are the basic code of ethics for an Accountant working in a Multinational Company? What could…

A: A Professional Accountant is required to comply with the following fundamental principles : A.…

Q: Which of the following is not a provision of the Sarbanes-Oxley Act as to the responsibility of a…

A: Solution: The Sarbanes–Oxley Act of 2002 is a United States law that mandates certain practices in…

Q: the role of the Chief Audit Executive?

A: A chief audit executive or the head of the internal audit function in a company is a staff from the…

Q: Evaluate the following statement: “The corporate charter and the bylaws of a company are legal…

A: The corporate charter of a company and the bylaws of a company are the legal documents. But, these…

Q: Describe how the Sarbanes-Oxley Act of 2002 has impacted the role of auditors

A: While performing an audit of company, auditor has to make sure that he complies with the standards…

Q: Why it is important to understand the culture of the company and what is its impact in internal…

A: Auditing means the inspection of financial accounts of the company to determine if the records are…

Q: The Sarbanes-Oxley Act provides for requirements with respect to which committee(s) of a company's…

A: The Sarbanes-Oxley Act (or SOX Act) refers to a form of federal law incorporated by United states…