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Unformatted text preview: BUSI0027DEF Management Accounting I Solutions to Ch1 assignments E1-15 1. confidentiality 2. competence 3. credibility 4. competence 5. integrity 6. competence 7. integrity 8. credibility 9. confidentiality 10. competence 11. integrity 12. confidentiality 13. credibility E1-17 MEMO DATE: Current TO: Accounting Colleagues FROM: Your Name RE: SOX ______________________________________________________ The Sarbanes-Oxley Act of 2002, better known as SOX, was the direct result of corporate accounting scandals such as those at Enron and WorldCom. The goal of SOX is to restore public confidence in publicly traded companies, their management, their financial statements, and their auditors. Some of the major provisions of SOX include: • The CEO and CFO assume responsibility for the financial statements and must certify that the financial statements fairly present the operations and financial condition of the company. • The CEO and CFO assume responsibility for establishing and maintaining an adequate internal control structure and procedures for financial reporting.adequate internal control structure and procedures for financial reporting....
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- Spring '09
- Accounting, ........., IMA, IMA standards