Tag Archive: accounting

Sarbanes Oxley

  The 2002 Sarbanes Oxley legislation (new, enhanced standards for all U.S. public companies) was established in response to high-profile financial scandals (Enron, etc.) in order to protect shareholders and the general public from accounting errors and fraudulent practices. However, implementing SOX in a meaningful way for an organization is far from a no-brainer. A few tips include: Understand your business – what are your key business processes? Understand and document those processes, from the financial risk and control perspective. Do not worry about the rest. Materiality – this is another way of saying, focus on the 80/20. Focus on…
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