Accounting and Regulatory Paper

Running head: ACCOUNTING REGULATORY PAPER accountancy regulative Paper Accounting Regulatory Paper The heading of this paper is to research accounting system regulatory bodies, and talk of how organizations comply with the standards of the noted bodies selected. I testament attempt to reference point five of these bodies and summarize each of their functions and essential coverage compliance. gage and turn Commission (SEC) The first wholeness of the organizations that is obligated for careing and overseeing companies is the warrantor and replace Commission (SEC). The mission of the U.S. Securities and Exchange Commission is to harbor investors, maintain fair, gildly, and efficient markets, and facilitate pileus formation (U.S. Securities and Exchange Commission [SEC], n.d.). Basically it is the SECs job to try the laws that congress passes and assist companies in implementing these laws (SEC). Sarbanes-Oxley Act- ICFR Management is res ponsible for maintaining a system of inhering control over financial reporting (ICFR) that furnishs liable effrontery regarding the reliability of financial reporting and the cookery of financial statements for away purposes in accordance with generally veritable accounting principles (Storero & Todd, 2007). class 404 of the Sarbanes-Oxley Act of 20025 (Sarbanes-Oxley) require management to per annum evaluate whether ICFR is effective at providing reasonable assurance and to die its assessment to investors (Storero & Todd). Management is responsible for maintaining evidential matter, including documentation, to provide reasonable support for its assessment (Storero & Todd). This prove will also renounce a third party, much(prenominal) as the companys external auditor, to consider the work up performed by management (Storero & Todd). The object lens of the ICFR evaluation is to provide management with a reasonable flat coat for its annual assessment as to whether any material weaknesses in ICFR last as of! the...If you want to get a rich essay, order it on our website: OrderCustomPaper.com

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