Accounting and Regulatory Paper

Running head: ACCOUNTING REGULATORY PAPER news report regulative Paper Accounting Regulatory Paper The life of this paper is to research accounting system regulatory bodies, and argue how organizations comply with the standards of the noted bodies selected. I testament attempt to extension five of these bodies and summarize each of their functions and essential coverage compliance. security department and turn Commission (SEC) The first wholeness of the organizations that is obligated for dishing and overseeing companies is the earnest and transposition Commission (SEC). The mission of the U.S. Securities and Exchange Commission is to shelter investors, maintain fair, aimly, and efficient markets, and facilitate pileus formation (U.S. Securities and Exchange Commission [SEC], n.d.). Basically it is the SECs job to try the laws that congress passes and assist companies in implementing these laws (SEC). Sarbanes-Oxley Act- ICFR Management is responsible for maintaining a system of indwelling control over financial reporting (ICFR) that cans liable confidence regarding the reliability of financial reporting and the cookery of financial statements for outside(a) purposes in accordance with generally veritable accounting principles (Storero & Todd, 2007).

sectionalisation 404 of the Sarbanes-Oxley Act of 20025 (Sarbanes-Oxley) require management to per annum evaluate whether ICFR is effective at providing reasonable assurance and to die its assessment to investors (Storero & Todd). Management is responsible for maintaining evidential matter, including documentation, to provide reasonable suppor! t for its assessment (Storero & Todd). This licence will also renounce a third party, such(prenominal) as the companys external auditor, to consider the play performed by management (Storero & Todd). The object lens of the ICFR evaluation is to provide management with a reasonable flat coat for its yearly assessment as to whether any material weaknesses in ICFR dwell as of the...If you want to get a rich essay, order it on our website: OrderCustomPaper.com

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