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Accounting control best practices
Addresses one of the primary concerns in accounting today - how to develop a comprehensive system of accounting and operational controls. This concern has been exacerbated by the provisions of the Sarbanes-Oxley Act, which requires public companies to report an assessment of their internal control structures and which has led to comprehensive control examinations by all types of companies. This second edition describes a complete set of controls for both a paper-based accounting process and a computerized system and then describes controls for more advanced best practices that are layered on to the basic computerized system. This second edition includes new chapters describing control systems for budgeting, collections, and financial reporting.
Accounts payable and Sarbanes Oxley
Looks at the Sarbanes-Oxley Act (SOX) and how accounts payable functions can strengthen their internal controls. Includes information on the proper documentation and necessary guidelines needed to conform with SOX and ensure accounts payable departments are compliant.
How to comply with Sarbanes-Oxley section 404: assessing the effectiveness of internal control
Features step-by-step guidance for evaluating a company's internal control and proving these systems are in place. Contains forms, checklists, illustrations, diagrams, and tables to assist auditors involves in an internal control evaluation.
Internal audit reports post Sarbanes-Oxley: a guide to process-driven reporting
Looks at the changes made by the Sarbanes-Oxley Act and the standards, rules and tools applicable to the internal audit process. Contains sections on process-driven reporting and report writing, and appendices with professional standards.
Research refutes Sarbanes-Oxley critics
Strong evidence exists of a link between auditor-identified weak internal controls and subsequent fraud cases. New research, discussed in this article, finds that requirements of Section 404(b) of the Sarbanes-Oxley Act do provide an effective early warning system for company fraud.
As SOX costs persist companies automate more controls
The article discusses the increasing number of companies that turn to automation of internal control over financial reporting to cope up with the increasing cost and audit demands for Sarbanes-Oxley (SOX) Act compliance.
Years later, Sarbanes-Oxley is part of how companies do business
Thirteen years since the Sarbanes-Oxley Act (SOX) was approved, it has become engrained in the way U.S. companies do business. The main ongoing challenges in complying with SOX relate to corporate whistleblowing and expanding into global markets.
Latest state of affairs on whistleblower claims
The U.S. Occupational Safety and Health Administration (OSHA) has published a final rule expanding protection for whistleblowers under the Sarbanes-Oxley and Dodd-Frank acts.
Assurance news: Rotation leading to lower audit fees in Europe
The U.S. Public Company Accounting Oversight Board (PCAOB) had been considering requiring mandatory audit firm rotation, but has been discouraged by a European trend towards lower audit fees since the European Parliament approved mandatory rotation.
Audit fees head higher after decades of declines
For the first time since the introduction of the Sarbanes-Oxley Act, audit fees in the U.S. are increasing - in response to regulatory demands and high salaries for accountants and auditors.
Buying time on COSO's control framework update
Companies that are behind in the implementation of the new COSO 2013 framework are starting to consider the delay-and-disclose option. Transition tips are provided.
SOX after ten years: A multidisciplinary review
The authors have reviewed and assessed research findings from more than 120 papers in accounting, finance, and law to evaluate the impact of the Sarbanes-Oxley Act.
Are your clients ready for the new COSO internal framework?
A five-step process to achieve transition to the new COSO 2013 framework is provided.
Is the Sarbanes-Oxley Act working?
Has the Sarbanes-Oxley Act has succeeded in its aims of making financial reporting more transparent, improving corporate governance and regulating the auditing profession?