Comments for Compliance Sarbanes Oxley

Comment on How to determine if an application is SOX (Sarbanes Oxley) compliant? by just_the_facts_ma'am

just_the_facts_ma'am — Tue, 16 Mar 2010 04:14:59 +0000

It should be evaluated following CobiT standards, linked below
References :
http://www.isaca.org/Template.cfm?Section=COBIT6&Template=/TaggedPage/TaggedPageDisplay.cfm&TPLID=55&ContentID=31519

Comment on Does the Sarbanes-Oxley Act provide for government accounting standards? by liberal_60

liberal_60 — Sun, 14 Mar 2010 04:59:59 +0000

No Sarbanes-Oxley is only for corporations with publicly traded shares.

There is no similar statute for government accounting, but there are government standards established by the accounting industry. The Government Accounting Standards Board. Their standards are analogous to GAAP for private companies. See the link below.
References :
http://www.gasb.org/

http://en.wikipedia.org/wiki/Sarbanes-Oxley_Act

Comment on What does the sarbanes oxley act restrict ? by WRG

WRG — Fri, 12 Mar 2010 07:23:59 +0000

The Sarbanes–Oxley Act of 2002 (Pub.L. 107-204, 116 Stat. 745, enacted July 30, 2002), also known as the ‘Public Company Accounting Reform and Investor Protection Act’ (in the Senate) and ‘Corporate and Auditing Accountability and Responsibility Act’ (in the House) and commonly called Sarbanes–Oxley, Sarbox or SOX, is a United States federal law enacted on July 30, 2002. It is named after sponsors U.S. Senator Paul Sarbanes (D-MD) and U.S. Representative Michael G. Oxley (R-OH).

The bill was enacted as a reaction to a number of major corporate and accounting scandals including those affecting Enron, Tyco International, Adelphia, Peregrine Systems and WorldCom. These scandals, which cost investors billions of dollars when the share prices of affected companies collapsed, shook public confidence in the nation’s securities markets.
References :
http://en.wikipedia.org/wiki/Sarbanes%E2%80%93Oxley_Act

Comment on What does the sarbanes oxley act restrict ? by NJM133

NJM133 — Fri, 12 Mar 2010 07:07:59 +0000

go on wikipedia
References :

Comment on how to become a sarbanes oxley analyst? by Vanessa D

Vanessa D — Wed, 10 Mar 2010 04:00:59 +0000

since SOX is a very comples rule, you are likely to be required to have a masters. A certificate in accounting may teach you the basics of a general ledger, debit/credit posting, etc. I honestly don't think it will give you the in-depth knowledge required to be a SOX analyst.
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Comment on how to become a sarbanes oxley analyst? by Craig H

Craig H — Wed, 10 Mar 2010 03:30:59 +0000

To answer your question, either could would probably give you what you need… which boils down to a foot in the door, so that you can work at a company that needs to comply with SOX requirements. The best place to learn about this sort of stuff is in the real world, not in a classroom.

A question back at you: why do you want to specifically become a SOX expert? If you focus on this too much, there’s a risk that you’ll become redundant when the regulations change again, which seems to happen every few years. And along these same lines, the latest talk I’ve heard is that people are pushing for relaxation of SOX requirements anyway, as they’re impacting US firms’ ability to compete with European and Asian companies… might be just talk, but you never know…
References :
my job

Comment on Sarbanes-Oxley compliance relative to email and disaster recovery? by Bronzebeardanswerer

Bronzebeardanswerer — Mon, 08 Mar 2010 06:27:59 +0000

While many public companies have increased the attention they place on having adequate disaster recovery and data-backup plans because of theoretical Sarbox concerns, I don’t believe Sarbox has specific requirements per se on email and disaster recovery.

Sarbox primarily (1) prohibits certain kinds of actions (officer loans, using auditors for non-audit services without pre-approval) and (2) requires more stringent internal controls and procedures (mostly relating to insuring prevention of fraud in financial statements). Unless your auditors require you to show that there are adequate disaster recovery plans as a condition to certifying you have adequate internal controls and procedures (which I don’t think is the case), I don’t think it bears directly.
References :
I am an attorney familiar with Sarbox. Not an accountant though, so maybe the auditors are requiring it in order to give certifications.

Comment on How is the Sarbanes-Oxley Act affects auditor services that an auditor can provide to its audit clients? by bren u

bren u — Sat, 06 Mar 2010 06:00:59 +0000

There should be a web site that explains it.
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Comment on My instructor told me that Obama wants to do away with all or part of the Sarbanes Oxley Act. Is this true? by PAUL P

PAUL P — Thu, 04 Mar 2010 06:52:59 +0000

hmm well i don/t know much about accounts. i don/t know it is true or not.
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Comment on My instructor told me that Obama wants to do away with all or part of the Sarbanes Oxley Act. Is this true? by fcas80

fcas80 — Thu, 04 Mar 2010 06:09:59 +0000

1. Ask your instructor to cite a source for this, and check it out.

2. Auditors are in greater demand because of Sarbanes Oxley. Meanwhile SOX costs companies millions, and hasn’t prevented the financial crisis. It might be better for the economy if SOX is modified to be less costly to business.

3. Accountants and auditors will always be in demand, with or without SOX.
References :