Discuss the key features of Section 404 of the Sarbanes-Oxley Act
Section 404 requires the management of public companies to assess the effectiveness of their organization's internal controls over financial reporting and provide an annual report addressing the following points: 1) A statement of management's responsibility for establishing and maintaining adequate internal control. 2) An assessment of the effectiveness of the company's internal controls over financial reporting. 3) A statement that the organization's external auditor has issued an attestation report on management's assessment of the company's internal controls. 4) An explicit written conclusion as to the effectiveness of internal control over financial reporting. 6) A statement identifying the framework used by management to conduct their assessment of internal controls.
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Depreciation expense will be recorded in the accounts of the lessee and lessor for which type of leases? Lessee Lessor I. operating direct financing II. capital operating III. operating operating IV. capital sales-type ?
A) I B) II C) III D) IV
Which of the following is FALSE with regard to a process?
a. Selecting a process can be expensive. b. Implementing a process requires substantial capital investment. c. The right process can contribute to increased cost of production. d. The right process can contribute to better responsiveness to customers.
Allow people with speech impairments to finish what they are saying. Don't talk for them, complete their sentences, or interrupt.
Answer the following statement true (T) or false (F)
The balance sheet is a financial statement measuring the flow of funds into and out of various accounts over time while the income statement measures the progress of the firm at a point in time.
Answer the following statement true (T) or false (F)