Essays Tagged: "Public Company Accounting Oversight Board"

Monopoly: Do not pass Go, Do not collect $200. Is more government oversight of corporate finances needed?

the first, most recent incident, many think of is The Enron Scandal. This same scandal produced the Public Company Accounting Reform and Investor Protection Act of 2002. This much needed act created t ... Exchange Commission's supervision. This board sets accounting standards and investigates Certified Public Accountants and companies to ensure they are following the guidelines set forth. This board h ...

(4 pages) 54 0 4.8 Aug/2004

Subjects: Law & Government Essays > Government

Ethical and Legal Obligations in Accounting

s include the Financial Accounting Standards Board, the Securities and Exchange Commission, and the Public Company Accounting Oversight Board.The Financial Accounting Standards Board (FASB) is a desig ... ds were established by the Committee on Accounting Procedure of the American Institute of Certified Public Accountants (FASB, 2005). The standards set by the FASB are officially recognized by the U.S. ...

(4 pages) 219 0 4.7 Jul/2006

Subjects: Businesss Research Papers > Accounting

Functions of Auditing

operational, and compliance audits, explain the effect that the Sarbanes-Oxley Act of 2002, and the Public Company Accounting Oversight Board (PCAOB) will have on audits of publicly traded companies, ... es and procedures to assure they are being complied with.The Sarbanes-Oxley Act of 2002 created the Public Company Accounting Oversight Board, PCAOB, and gave them the exclusive right to set the stand ...

(3 pages) 217 0 4.0 Oct/2006

Subjects: Law & Government Essays

Generally Accepted Auditing Standards Paper

rg and Schwieger, 2005) The Generally Accepted Auditing Standards (GAAS) have been developed by the Public Company Accounting Oversight Board (PCAOB), for public companies, and the American Institute ... ), for public companies, and the American Institute of Certified Public Accountants (AICPA), for nonpublic companies to guide the practice of auditing within the public accounting profession in the Un ...

(4 pages) 305 1 3.0 Nov/2006

Subjects: Businesss Research Papers > Accounting

Ethical and Legal Obligations

ASB (Financial Accounting Standards Board), the SEC (Security and Exchanges Commission), and PCAOB (Public Company Accounting Oversight Board) all work together to decide and determine which standards ... ial reporting that allows comparisons between different companies. This also allows transparency in publicly traded companies to ensure accurate record keeping and reporting and protects the investor ...

(4 pages) 230 0 2.3 Jan/2007

Subjects: Businesss Research Papers > Accounting

Federal Rules and Regulations that apply to Techno Products, Inc.

des an efficient method for buyers and sellers to trade shares of stock in companies registered for public trading. The exchange provides efficient price discovery via an auction environment designed ... oving the accuracy and reliability of corporate disclosures, covering issues such as establishing a public company accounting oversight board, corporate responsibility, auditor independence, and enhan ...

(18 pages) 196 0 5.0 Jul/2007

Subjects: Businesss Research Papers > Case Studies

Company Selection Paper

The two public traded companies that Team A chose to conduct a brief overview of are Wal-Mart and Target. Bo ... cal standards need to be adhered internally and externally. Wal-Mart uses an independent registered public accounting firm to audit their internal financial statements. The firm that is listed in Wal- ... , cash flows, and shareholders investment. These audits are in accordance with the standards of the Public Company Accounting Oversight Board (United States).TargetTarget and Wal-Mart are very similar ...

(5 pages) 268 0 0.0 Jul/2007

Subjects: Businesss Research Papers > Case Studies

Accounting Scandals in the early 2000s

he securities laws, and for other purposes" (SOX, 2002). The most fundamental reform of SOX was the Public Company Accounting Oversight Board (PCAOB), which was created to oversee auditors of public c ...

(1 pages) 69 2 4.3 Oct/2007

Subjects: Businesss Research Papers > Accounting

The Public Company Accounting Oversight Board

The Sarbanes-Oxley Act created the Public Company Accounting Oversight Board (PCAOB) to assume the responsibility of overseeing the aud ... , non-profit corporation. It was established to "protect the interests of investors and further the public interests in the preparation of informative, fair, and independent audit reports". (The PCAOB ... functions. The PCAOB was created in response to an increasing number of accounting restatements by public companies during the 1990s and a series of recent high-profile scandals like Enron and WorldC ...

(5 pages) 47 0 0.0 Oct/2007

Subjects: Businesss Research Papers > Accounting

Ethics in Accounting

n the corporate businesses world ethics in accounting seems to be an after thought. With the highly publicized accounting scandals of WorldCom, Enron, and Tyco many business have adopted new policies, ... elped to regulate an organization's financial information by covering issues such as establishing a public company accounting oversight board, auditor independence, and corporate responsibility and en ...

(2 pages) 75 0 3.0 Nov/2007

Subjects: Businesss Research Papers > Accounting

SOX

, which promoted to produce change in the corporate environment, in general, by stressing issues of public accountability and disclosure in the financial operations of business. It explains how this i ... of 2002, this paper will henceforth refer to it as the Act and SOX. Another name for the Act is the Public Company Accounting Reform and Investor Protection Act. The shorter name comes from the two se ...

(12 pages) 222 0 5.0 Apr/2008

Subjects: Businesss Research Papers > Accounting

Ethics Artile Review

The article being reviewed is called, "Sarbanes-Oxley: Beyond Public Companies" written by William H. Wiersema. Investors in the Stock Market rely on financial in ... , a report on a company\'s system of internal control is now also required. The Act established the Public Company Accounting Oversight Board. An essential element of the Act is the independence of th ... services. In addition to requiring the accounting firms to maintain independence, the Act requires public companies to keep its Board of Directors, and the Audit Committee of the Board of Directors i ...

(3 pages) 42 0 0.0 Aug/2008

Subjects: Businesss Research Papers

Accounting Regulatory Bodies Paper

xamine the Securities & Exchange Commission (SEC), Financial Accounting Standards Board (FASB), Public Company Accounting Oversight Board (PCAOB), and the Governmental Accounting Standards Board ( ... nted by the U.S. President and approved by the Senate. The SEC protects investors by promoting full public disclosure and fraudulent and controlling practices in the securities sector. To comply with ...

(3 pages) 235 0 5.0 Dec/2008

Subjects: Businesss Research Papers > Accounting

Accounting Bodies' paper

regulations such as the financial accounting standards board, the security exchange commission the public company accounting oversight board, and the international accounting standards board. The reg ... successful.The Financial Accounting Standards Board (FASB) was established to guide and educate the public. Accounting standards are important to the economy to make information clear and concise whic ...

(1 pages) 57 0 0.0 Dec/2008

Subjects: Businesss Research Papers > Accounting

Sarbanes-Oxley Act and the Insurance Industry. Article Analysis about the Sarbanes-Oxley Act.

g a need for something to be done. Of the things that the SOX Act has changed are "establishing the Public Company Accounting Oversight Board to regulate independent audit firms, restrict the performa ... regulate independent audit firms, restrict the performance of non-audit services by auditors, make public company audit committees responsible for the appointment, compensation, and oversight of any ...

(3 pages) 72 0 5.0 Feb/2009

Subjects: Businesss Research Papers

The Sarbanes-Oxley Act of 2002

ron and WorldCom. Corporate reforms were demanded by the government, the investors and the American public to prevent similar future occurrences. Viewed to be largely a result of failed or poor govern ... ties laws since the 1934 the Sarbanes-Oxley Act (also known as SARBOX or SOX) sought to address the public concerns through making corporate board members responsible for company accounting statements ...

(19 pages) 199 0 0.0 Feb/2009

Subjects: Businesss Research Papers > Management

Accounting Reporting Criteria

Accounting reporting criteria includes the Public Company Accounting Oversight Board. PCAOB has been a part of the auditing process since 1939 ... to 28 percent.In 2002, Congress passed the Sarbanes-Oxley Act. The Act requires the details of all publicly traded US companies to follow strict guidelines for financial accounting and reporting. SOX ... however they are working with IASB to coordinate standards that come together.ReferencesPCAOB,2009. Public company accounting oversight board. Retrieved on May 10, 2009 fromwww.pcaob.com PCAOBThe Vend ...

(3 pages) 28 0 0.0 May/2009

Subjects: Businesss Research Papers > Accounting

Managerial and Financial Accounting

The forecasting of future financial transactions is described in management accounting. To protect public interest and to make sure this type of accounting is in order financial accounting is regulat ... Securities and Exchange Commission (SEC), the Financial Accounting Standards Board (FASB), and the Public Company Accounting Oversight Board (PCAOB). In contrast, management accounting is not regulat ...

(4 pages) 48 0 5.0 Jun/2009

Subjects: Businesss Research Papers

Accounting Regulatory Bodies Paper

andards Board, Securities and Exchange Commission, Governmental Accounting Standards Board, and the Public Company Accounting Oversight Board are the four bodies discussed in this paper.The Financial ... ction is to develop generally accepted accounting principles (GAAP) within the United States in the public's interest (FASB.org, 2009). The FASB is made up of a seven-member board consisting of accoun ...

(2 pages) 27 0 0.0 Sep/2009

Subjects: Businesss Research Papers

Regulatory Bodies

ations and their financial officers. Agencies such as, the U.S. Securities and Exchange Commission, Public Company Accounting Oversight Board (PCAOB), the Financial Standards Accounting Board (FASB), ... improving standards of financial accounting and reporting in the United States for non-governmental public and private enterprises, including small businesses (Financial Accounting Standards Board, 20 ...

(3 pages) 22 0 0.0 Jan/2010

Subjects: Businesss Research Papers > Management > Leadership and Communication