Sarbanes Oxley Act

SunGard Availability Services Executive Brief Series Sarbanes-Oxley Act (SOA) Section 404: Ensuring selective information Integrity and Availability for Compliance and Attestation Overview Intended to establish incorporate responsibility and restore investor confidence, the Sarbanes-Oxley Act (SOA) of 2002 aims to guarantee executive responsibility and assurance regarding the internal controls that support corporate decision do and financial reporting and fraud prevention. Section 404 of SOA requires the Securities and Exchange missionary station (SEC) to publish and enforce rules for implementing internal controls to ensure the accuracy and foil of in public traded companies corporate financial data.

In turn, the SEC has proposed a rule that would require the annual report of each publicly traded friendship to contain an internal control report that: States worrys responsibility for establishing and maintaining adequate internal control all over financial reporting for the company Identifies the framework used by management to evaluate the intensity take of the internal control Assesses the effectiveness of the internal control as of the end of the companys fiscal year States that its auditor issued an attestation report on the managements assessment Under SOA, senior executives resembling you mustiness personally attest to the accuracy of your organizations financial measurements and the controls you have implemented to ensure it, while your auditors must certify all internal controls related to disclosure of your pixilateds financial statements. This requirement is unprecedented in the level of personal responsibility and accountability it places on a companys management team to ensure ethical and telephone set reporting in the public interest. And, it culminates in individual penalties for disobedience that include fines of up to $5 million and imprisonment of up to 20 years. Experts and analysts agree that controls apply to any and all processes, procedures, applications,... If you lack to get a full essay, order it on our website: Ordercustompaper.com

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