SOX - DONT COPY(he checks)

SOX - DONT COPY(he checks) - Jeremy LaMell Accounting SOX...

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Jeremy LaMell Accounting – SOX Act April 1, 2008 Private Companies Adopting the Sarbanes-Oxley Act Since the passing of the Sarbanes-Oxley Act in 2002, increasingly more private companies are adopting parts of the act. Recent studies have found that about one- quarter to one-third of the fastest growing privately owned companies have incorporated some practices of the Sarbanes-Oxley Act. The act was meant for public-sector companies, but many private organizations have implemented certain compliance practices in order to create better companies. Voluntarily adopting certain SOX practices can create a company that is more attractive to customers, shareholders, investors, and possible mergers. There are many reasons that implementing certain accounting practices could prove to be beneficial for private companies. Generally the internal controls of private companies are informal. If the controls are not strictly followed it can cause the company to fail in meeting their objectives. It is often difficult for management to make certain
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This essay was uploaded on 04/08/2008 for the course ACC 211 taught by Professor Devine during the Spring '08 term at Loyola Marymount.

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SOX - DONT COPY(he checks) - Jeremy LaMell Accounting SOX...

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