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The Sarbanes-Oxley Act (SOX)requires documentation and verification of internal controls.It also emphasizes effective internal controls.
Sarbanes-Oxley Act
The Sarbanes-Oxley Act is a United States federal law enacted in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures.
Internal Controls
Procedures and processes implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.
Documentation
The process of creating, compiling, and maintaining records and detailed information.
- Identify the rules governing accounting practices and the critical role of ethics within this field.
- Understand the significance of internal controls in business operations.
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Learning Objectives
- Identify the rules governing accounting practices and the critical role of ethics within this field.
- Understand the significance of internal controls in business operations.
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