Compliance Sarbanes Oxley

how to become a sarbanes oxley analyst?

admin — Tue, 09 Mar 2010 22:23:04 +0000

would a graduate certificate in Accounting due? or do i need a masters in accounting?

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…

Sarbanes-Oxley compliance relative to email and disaster recovery?

admin — Mon, 08 Mar 2010 01:20:27 +0000

Can anyone tell me what if any requirements there are relative to email and/or disater recovery and co-locattion facilities from a Sarbanes-Oxley compliance perspective?

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.

How is the Sarbanes-Oxley Act affects auditor services that an auditor can provide to its audit clients?

admin — Sat, 06 Mar 2010 00:40:10 +0000

There should be a web site that explains it.

My instructor told me that Obama wants to do away with all or part of the Sarbanes Oxley Act. Is this true?

admin — Thu, 04 Mar 2010 00:23:03 +0000

I am an accounting major and I think accountants and auditors are in greater demand because of this act. If it were done away with it could effect the market for accountants.

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.

What is the equivalent of the Sarbanes-Oxley Act for privately-held companies?

admin — Mon, 01 Mar 2010 21:32:30 +0000

Who watches the little guys?

There’s no exact equivalent – but the IRS has a certain tendency to audit private firms who are perhaps trying to naively enter some famous accounting misrepresentations into their books.

Penalties are quite large for the unethical ‘little guys’ too!

What corporate scandals have occurred since the Sarbanes-Oxley Act?

admin — Sat, 27 Feb 2010 20:35:15 +0000

I’d like to know two things in particular:
1. What corporate scandals happened after the Sarbanes-Oxley Act was passed.
2. Were these scandals in violation of the Sarbanes-Oxley Act or were they result of unrelated legal/ethical violations?

special consideration given to those use & proper cite specific data. Thanks for your help.

Having trouble with your homework?

What is the connection in Sarbanes-Oxley to SAP workflow?

admin — Thu, 25 Feb 2010 23:21:14 +0000

Is it a must that companies utilize workflow to maintain compliance?

Read and learn.

Why are Spreadsheets a possible regulatory problem under Sarbanes-Oxley?

admin — Tue, 23 Feb 2010 22:21:07 +0000

A. Because there is only a single copy of the data for all users, authoritative statements are not easily verified.

B. Because there is only a single copy of the data for all users, authoritative statements are not easily verified.

a and b are the same………

Because data can be changed……SOX requires that business data be readable and not changeable by just ANYONE…….all changes to business data must be done through a program which enforces business rules and user authority to such data.

Why does Cramer keep referring to Sarbanes Oxley saying, "How do they get away with this?"!?

admin — Sun, 21 Feb 2010 22:21:59 +0000

What is he referring to with regards to the Federal Reserve and release of credit to the market?

The crooks [those opposed to sarbanes oxley] are now squealing like pigs wouldn’t you know.

Best advise;

Cramer is an entertainer who does not belong on any corporate board…

What issues were encountered with installing Sarbanes-Oxley?

admin — Fri, 19 Feb 2010 22:31:03 +0000

Was Finance spreadsheets the biggest issue? Was Human Resources helpful in bringing the human element into focus? Did IT have many issues? What about risk control, quality control?

most issues were IT related, the CFO and CEO needed to certify the accounts were correct and they needed to have a reporting system for that.

The risk control and quality control are in fact minor issues, risk control is not realy prescribed, only the documentation of the risk is prescribed (bakc to IT), quality control (of the products, not of the books) is not even related to SOX.

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