What are management’s responsibilities under Sections 302 and 404?

Q: Identify each of the following as a (a) purpose of an internal control system, (b) principle of…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: What responsibility would internal auditing go under? managerial accounting, tax accounting or…

A: There are different branch of accounting that help in the recording of transactions and analysis of…

Q: What is management's responsibilities for reporting internal control under Section 404 Sarbanes…

A: Internal control is an important part of every organization. It helps in maintaining the efficiency…

Q: What is management’s responsibility for reporting on internal control over financial reporting?

A: Internal control is a mechanism or procedure that the company implements so that the integrity of…

Q: What is managing underwriter?

A: Managing Underwriter: The leading company in a guaranteeing group, which creates the transaction and…

Q: What is the difference between "Comptroller" and "Controller"?

A: Meaning - Comptroller is the person responsible for audits and expenses of the government. The…

Q: When does an agency relationship happen

A: Agent Relationship : The official stipulations of a specific principal-agent relationship are…

Q: The plans of management are expressed formally in ________________________.

A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…

Q: What is the difference between operating departments and service departments?

A: There are so many multinational corporations that manage difficult industries. Managing such…

Q: Why should responsibility for related transactions be divided among different departments or…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: What activities and responsibilities are not associated with management's functions? a. Planning b.…

A: Financial statements are statements which states the business activities performed by the company .…

Q: Support for Politicization of rule making for accounting standards

A: The politicization of accounting rulemaking should not be viewed in a narrow sense. As accounting…

Q: List the major elements that contribute to perceptions of justice and how to apply these in…

A: An organization is a one- or more-person body with a specific goal, such as a firm, an institution,…

Q: ISA 250 paragraph 10 cover the aspects of a. Law and regulation governing accounting and auditing b.…

A: The question is multiple choice question  Required  Choose the Correct Option.

Q: Which one of the following is related to the planning function of management: a. Establishing goals

A: Overhead rates refers to the cost allocated to the production of a product or a service required by…

Q: What are the ethical responsibilities ofmanagement accountants?

A:

Q: What standards do management accountants follow?

A: Managerial Accounting is different than the financial accounting. Managerial accounting is prepared…

Q: agency problem

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

Q: What is an agency order?

A: Solution- Agency order An order to buy or sell that a broker executes with another investor. The…

Q: The basic components of an organization's internal control are:                 Select one: a.…

A: Internal control is a system of organizing the company in which a set of rules, policies, and…

Q: Describe the four organization objective categories in the internal control framework. How are they…

A: Internal control systems are the policies, procedures framed by the management of the Company to…

Q: Describe the agency problem in public companies

A: Definition:

Q: What is management’s primary objective?

A: The primary objective of the management is Shareholders wealth maximization which is a long-term…

Q: What is an agency problem?

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

Q: Describe disclosures related to management’s discussion and analysis, responsibilities, and…

A:

Q: 68. Which is correct with regards to the financial and managerial accounting? * Financial accounting…

A: >Financial accounting involves accounting for the transaction as they occur, following various…

Q: Discuss the difference between the Management Letter and the Legal Representation Letter

A: Definition: Auditing: In auditing, auditors verify the correctness and fair presentation of…

Q: Referring to the professional standards (AU-C 210), what is BDO’s responsibility with respect to…

A: BDO is Binder Dijker Otte, its basically a set of  world networks used for the processes of public…

Q: What is meant by the term management by exception?

A: Business Management:   Business management refers to the skills associated with running a company…

Q: Role of a Director

A: The director of a company is the person that manages the company on behalf of its shareholders.

Q: What are management's and auditors' relative internal control responsibilities

A: Introduction:Management establishes internal controls. To preserve the integrity of the financial…

Q: What major types of items are reported in the retainedearnings statement?

A:

Q: What are the responsibilities of management described in Section 404 of the Sarbanes-Oxley Act?

A: As per Section 404 – Sarbanes-Oxley Act, It is compulsory and mandatory for all the public trading…

Q: Define the management assertions of existence or occurrence, completeness, rights and obligations,…

A: Management assertion is the declaration by the management about the content of the financial…

Q: what are the responsibility of Board members with regards to internal controls?

A: Internal Controls Internal controls refer to the rules, regulations, or processes implemented by a…

Q: Draw the sketch of the management Accounting control system. What type of considerations are…

A: The administrative devices that firms use to control their managers and staff are referred to as…

Q: WHAT ARE SOME EXAMPLES OF POLICY CREDITS AND ADMINISTRATIVE GUIDANCE

A: Policy credits: The credit limit portion specifies the maximum amount of credit that consumers will…

Q: Section 404(a) of the Sarbanes–Oxley Act requires management toissue a report on internal control…

A:

Q: What are the two phases of responsibility accounting?

A: Responsibility Accounting: The management of responsibility centers by the means of pre-determined…

Q: How can agency problems be resolved.

A: A principal is one who hires an agent to perform some of his duties. Hence, it is the responsibility…

Q: Discuss management responsibilities.

A: