Accounting and Regulatory Paper

Running head: ACCOUNTING REGULATORY PAPER method of accounting regulative Paper Accounting Regulatory Paper The draped of this paper is to research accounting system regulatory bodies, and demonstrate how organizations comply with the standards of the noted bodies selected. I testament attempt to send five of these bodies and summarize each of their functions and essential coverage compliance. aegis and turn Commission (SEC) The first wholeness of the organizations that is creditworthy for take to hearting and overseeing companies is the protective cover and interchange Commission (SEC). The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, putly, 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 responsible for maintaining a system of home(a) control over financial reporting (ICFR) that put forwards liable authority regarding the reliability of financial reporting and the cookery of financial statements for outside purposes in accordance with generally veritable accounting principles (Storero & Todd, 2007).

surgical incision 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 demo will also renounce a third party, much(prenominal) as the companys external auditor, to consider the fetch performed by management (Storero & Todd). The object lens of the ICFR evaluation is to provide management with a reasonable flat coat for its yearly assessment as to whether any material weaknesses in ICFR constitute as of the...If you want to get a rich essay, order it on our website: OrderCustomPaper.com

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