effects of sox final

effects of sox final - Effects of SOX In generally...

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Effects of SOX In generally Sarbanes-Oxley act made big change for auditing process over internal control. Auditing process became stronger and accuracy. Both side of CPA firms and public traded companies faced new rules and regulations. Section 404 required on internal control to change the nature, timing and extent testing of controls. Before The Act auditors could elect to forgo the testing of controls and perform the audit using only substantive testing, but The Act does not allow this anymore. New internal auditing rule thoroughly and clearly impacted auditors and helped them with its requirements, such as performing effective internal controls reviews under COSO framework. Impact to managment From the onset, management is responsible for the establishment, operation, maintenance and improvement of internal controls. Management is also responsible for the identification, documentation, and evaluation of all the organization’s significant internal controls. The internal control requirements, rules and procedures that SOX demands,
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effects of sox final - Effects of SOX In generally...

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