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Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127

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BuyFindarrow_forward

Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127
Textbook Problem

“Section 404 of SOX has not been a good idea. It has been too costly and it has not had its intended effect.” Do you agree? Discuss fully.

Summary Introduction

To explain: If Person X agrees or not.

Introduction:

Accounting information systems:

It is an information structure which collects and manages data of an organization which can be utilized by analysts, managers, and other decision making authorities of an organization.

Explanation

The view of Person X:

The results of section 404 of the Sarbanes-Oxley Act is mixed. It is evident that the implementation cost for this act is costly. There are some foreign firms that delisting from the stocks in the exchange owing to the strict regulations of the act.

Some other firms are going private from becoming public to circumvent the necessity of section 404. On the other side of the discussion, some business has improved their control systems as a result of section 404 stating that section 404 of the act is worthwhile...

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