Download or read book Foreign Firms Mandatory Reporting of Material Weaknesses in Internal Control written by Maria T. Caban-Garcia and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The enactment of the Sarbanes-Oxley Act (SOX) of 2002 established several reforms to improve corporate governance and financial reporting practices for companies listed in US capital markets. Given the important role played by foreign firms in US capital markets, the present article discusses the early effects of SOX's regulation on foreign firms. Country- and firm-level data provide a descriptive analysis of the characteristics and trends in material weakness in internal controls reporting for firms cross-listed on US exchanges. The discussion includes a description of the implementation timeline of Section 404 for foreign issuers and compares some of these characteristics to reports from US firms. Understanding the characteristics of cross-listed firms, as well as country-specific qualities, is important to auditors and managers as they strive to maintain audit quality and improve internal control practices and corporate governance. This information is beneficial to regulators as these characteristics could have implications in the evaluation of foreign firms' compliance with Section 404 requirements.
Download or read book How to Comply with Sarbanes Oxley Section 404 written by Michael J. Ramos and published by John Wiley & Sons. This book was released on 2004-03-29 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: Designed specifically for Sarbanes-Oxley Section 404 compliance, How to Comply with Sarbanes-Oxley Section 404 features: A step-by-step approach to engagement performance Original material from a leading expert in auditing and accounting Practice aids, including forms, checklists, illustrations, diagrams, and tables In-depth explanations to help professionals understand how best to approach the internal control engagement Examples and action plans providing blueprints for implementing requirements of the Act Order your copy today!
Download or read book The Disclosure of Material Weaknesses in Internal Control After the Sarbanes Oxley Act written by Weili Ge and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on a sample of 261 companies that have disclosed at least one material weakness in internal control in their SEC filings after the effective date of the Sarbanes-Oxley Act of 2002. Based on the descriptive material weakness disclosures provided by management, we find that poor internal control is usually related to an insufficient commitment of resources for accounting controls. Material weaknesses in internal control tend to be related to deficient revenue recognition policies, lack of segregation of duties, deficiencies in the period-end reporting process and accounting policies, and inappropriate account reconciliation. The most common account-specific material weaknesses occur in the current accrual accounts, such as the accounts receivable and inventory accounts. Material weakness disclosures by management also frequently describe internal control problems in complex accounts, such as the derivative and income tax accounts. In our statistical analysis, we find that disclosing a material weakness is positively associated with business complexity (e.g., multiple segments and foreign currency), negatively associated with firm size (e.g., market capitalization), and negatively associated with firm profitability (e.g., return on assets).
Download or read book Beyond Internal Control over Financial Reporting written by Daoguang Yang and published by Taylor & Francis. This book was released on 2024-02-06 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: By examining two different modes of internal control and the fundamentals of risk management, this book analyses the role of internal control in financing, investment, profit distribution, and corporate strategies through China's experience. In doing so, it confirms the effectiveness and superiority of internal control over operation and management. The book compares the various internal control methods used in China and the USA, namely, operation and management-oriented versus financial reporting-oriented approaches. It also discusses the differences in corporate risk attitudes and behaviours under the two approaches. The author then proposes the hyper-correction hypothesis and the trimming hypothesis. Empirical findings regarding corporate cash policy, mergers and acquisitions, tax avoidance, and diversification strategy reveal that internal control in China does not result in undue risk aversion but instead manages enterprise risk within a reasonable capacity. These results support the trimming hypothesis and demonstrate that internal control is a useful risk management tool. The title will appeal to students, academics, and accounting professionals interested in internal control (risk management), accounting, auditing and corporate finance, regulation and governance.
Download or read book International Auditing Standards in the United States written by Asokan Anandarajan and published by Business Expert Press. This book was released on 2021-06-15 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a tool that students, faculty, and practitioners can use to better understand the relationship between US PCAOB auditing standards and IFAC IAASB auditing standards. With time, the designations of US PCAOB standards were reorganized from the initial publication of this book. Accordingly, we have added to this addition an Appendix, Appendix 1. It shows the correlation of the old designation of PCAOB auditing standards, before reorganization, and the new designations for these standards. We also have added a second appendix, Appendix 2. The latter presents the PCAOB standards, the related AICPA standards, and the IFAC IAASB standards. We suggest bookmarking the Appendices and referring back to them as you use the text.
Download or read book International and US IPO Planning written by Frederick D. Lipman and published by John Wiley & Sons. This book was released on 2008-12-22 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for International and U.S. IPO Planning "Perhaps the greatest value of Frederick Lipman's new book on initial public offerings derives as its title indicates from the emphasis that it places on planning. Lipman makes abundantly clear that an IPO is not something to be rushed into by every fledgling firm, as was typical during the dot.com boom of the late 1990s. Indeed, his extensive treatment of the many aspects of preparing a company for an IPO, particularly the non financial aspects, helps the reader to focus on the most important question of all: Is an IPO appropriate for a given company? Somewhat uniquely, Lipman then asks the further question of whether an international IPO might be appropriate for that company even if a domestic one were not. By doing so, he has made a real contribution to this literature." Kenneth C. Froewiss, Clinical Professor of Finance, NYU Stern School of Business "We are operating in a global environment in nearly every aspect of business, and structuring/planning for an IPO is no different. The recent changes in regulations for U.S.- listed companies have raised the cost of access of U.S.-listed IPO capital, making foreign exchanges much more attractive. Fred Lipman has created a wonderful guide for managers to seriously access this option for their business. I also hope his book is a wake-up call to U.S. regulators on their impact on the competitiveness of U.S. securities markets." Bob Hellman, Managing Partner & CEO, American Infrastructure MLP Funds "This book will be of immense value to the companies planning an IPO. I am particularly struck by the research done by the author, which, in my opinion, makes it an authentic guide for private companies not only in the U.S. but also in Asia, particularly India and China, where a huge opportunity awaits companies to mature into sustainable enterprises by involving a large section of society in their IPO." M.K. Chouhan, Chairman, Mahendra & Young Knowledge Foundation, and Vice Chairman of Global Advisory Board, Asian Centre for Corporate Governance "This book contains valuable suggestions for advanced planning for both U.S. and international IPOs and belongs in the library of every entrepreneur and business executive." William C. Tyson, Associate Professor, Legal Studies, The Wharton School of the University of Pennsylvania 8 crucial steps to planning a successful IPO International and U.S. IPO Planning outlines the eight step-by-step techniques all private companies must follow to prepare for a successful IPO, either in the U.S. or internationally. From advance planning techniques for both an international and U.S. IPO, to growing a business through acquisitions and "roll-ups" prior to an IPO, to deterring unwanted suitors by inserting carefully placed provisions into the charter, and so much more, International and U.S. IPO Planning provides a wealth of practical and insightful guidance to help the private company go public, regardless of its size or location.
Download or read book Determinants of Weaknesses in Internal Control over Financial Reporting written by Jeffrey T. Doyle and published by . This book was released on 2010 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine determinants of internal control deficiencies using a sample of 779 firms disclosing material weaknesses from August 2002 to August 2005. We find that material weaknesses in internal control are more likely for firms that are smaller, younger, financially weaker, more complex, growing rapidly, or undergoing restructuring. We next investigate whether these determinants differ based on whether the problem is at the transaction-level or is a more serious company-level problem. We find that firms with more serious entity-wide control problems are smaller, younger and weaker financially, while firms with account-specific problems tend to be healthy financially, but have complex, diversified, and rapidly changing operations. We also provide evidence that the determinants vary based on the specific reason for the material weakness. For example, firm size and age are strong determinants of staffing issues, consistent with each firm facing their own unique set of internal control challenges.
Download or read book The Law of Corporate Finance General Principles and EU Law written by Petri Mäntysaari and published by Springer Science & Business Media. This book was released on 2009-11-11 with total page 486 pages. Available in PDF, EPUB and Kindle. Book excerpt: This three-volume book constitutes the first attempt to define corporate finance law as an independent field of law with its own principles and tools. The book also contains a unique theory of corporate governance with the firm as the most important principal.
Download or read book Full Committee Hearing on Sarbanes Oxley Section 404 written by United States. Congress. House. Committee on Small Business and published by . This book was released on 2007 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Reporting Handbook written by Michael R. Young and published by Aspen Publishers Online. This book was released on 2003 with total page 1824 pages. Available in PDF, EPUB and Kindle. Book excerpt: Never before has a single reference provided such quick access to every critical aspect of financial reporting. In addition to covering the new Sarbanes-Oxley legislation, SEC rules and regulations, and corporate governance standards promulgated by the Independence Standards Board and the AICPA at institutions such as New York Stock Exchange, NASDAQ, and the American Stock Exchange, the Financial Reporting Handbook tackles important underlying themes such as the centrality of the audit committee, the individual responsibility of executives, and the integrity of the outside auditor. Best of all, the Financial Reporting Handbook will be updated every quarter with the relevant laws and regulations that are developed and implemented.
Download or read book Internal Control written by Olof Arwinge and published by Springer Science & Business Media. This book was released on 2012-11-07 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of internal control has developed along with audit practice. As demands have been made for greater accountability in corporate governance, the significance of internal control systems in companies has increased. Traditionally internal control has had a fairly direct relationship to financial reporting quality but wider approaches to internal control have expanded those boundaries much further. Stakeholders are increasingly concerned with the effectiveness of internal controls, and disclosure requirements are making firms to go public with regard to their internal control systems. From a design perspective, current research suggests that internal control designs are contingent upon variables such as company strategies, risk appetite, regulatory characteristics, and organizational size. Also there is much to learn about internal control quality, and the way internal control quality is associated with overall corporate governance quality. This book fills that gap.
Download or read book Handbook of Information Security Information Warfare Social Legal and International Issues and Security Foundations written by Hossein Bidgoli and published by John Wiley & Sons. This book was released on 2006-03-10 with total page 1008 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Information Security is a definitive 3-volume handbook that offers coverage of both established and cutting-edge theories and developments on information and computer security. The text contains 180 articles from over 200 leading experts, providing the benchmark resource for information security, network security, information privacy, and information warfare.
Download or read book The Foreign Corrupt Practices Act and the New International Norms written by Stuart H. Deming and published by American Bar Association. This book was released on 2010 with total page 822 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an in-depth analysis of the FCPA and significantly expands upon the first with critical updates reflecting the latest developments of the Act; a broader and more expansive analysis of the FCPA, including those aspects that relate directly to Sarbanes-Oxley; and a detailed analysis of the debarment practices associated with the anti-corruption policies of the World Bank Group.
Download or read book Business Sustainability Corporate Governance and Organizational Ethics written by Zabihollah Rezaee and published by John Wiley & Sons. This book was released on 2019-11-12 with total page 997 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive framework for understanding the most important issues in global business This is the e-book version of Business Sustainability, Corporate Governance, and Organizational Ethics. In today's business environment, multinational corporations are under pressure from investors, lawmakers, and regulators to improve their corporate governance, business sustainability, and corporate culture. Business sustainability, corporate governance, and organizational ethics are taking center stage in the global business environment. This long-awaited text covers each of these three important areas in detail, guiding readers to a robust understanding with features including chapter summaries, essential terms, discussion questions, and cases for each topic covered.
Download or read book Accountants Handbook Financial Accounting and General Topics written by D. R. Carmichael and published by John Wiley & Sons. This book was released on 2012-04-26 with total page 946 pages. Available in PDF, EPUB and Kindle. Book excerpt: This highly regarded reference is relied on by a considerable part of the accounting profession in their day-to-day work. This comprehensive resource is widely recognized and relied on as a single reference source that provides answers to all reasonable questions on accounting and financial reporting asked by accountants, auditors, bankers, lawyers, financial analysts, and other preparers and users of accounting information. The new edition reflects the new FASB Codification, and includes expanded coverage of fair value and guidance on developing fair value estimates, fraud risk and exposure, healthcare, and IFRS.
Download or read book Facing Global Digital Revolution written by Dyah Nirmala Arum Janie and published by Routledge. This book was released on 2020-02-25 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Industrial Revolution 4.0 describes the exponential changes to the way we live, work, and relate to one another due to the adoption of cyber-physical systems, the Internet of Things, and the Internet of Systems. This revolution is expected to impact all disciplines, industries, business, and economics. Therefore, the main goal of the conference was to provide recent research related development of digital technology to the business, economics, management, and accounting field. These proceedings consist of selected papers, accepted after a rigid review process covering several issues in strategic decision making, management, accounting, policy studies, knowledge management, innovation management, applied economics, econometrics, capital market, and marketing & sales management. It will provide details beyond what is possible to be included in an oral presentation and constitute a concise but timely medium for the dissemination of recent research results. BES Conference Proceedings 2019 will be invaluable to professionals and academics in business, management, accounting, and economics for a good understanding of the developments towards industrial revolution 4.0.
Download or read book Sec Disclosures Checklist 2009 Edition written by Ronald G. Pippin and published by CCH. This book was released on 2009-02 with total page 1620 pages. Available in PDF, EPUB and Kindle. Book excerpt:
