You researched the Enron fraud case and the SOX compliance legislation’s necessities, you offered references documenting your findings, and also you recognized different compliance legal guidelines which have been drafted on account of Enron and different industries. As well as, you wrote an government abstract describing the Enron fraud case’s impression and the U.S. authorities’s response to it.
Lab Evaluation Questions & Solutions
1. What part of the SOX compliance legislation requires correct controls and, therefore, safety controls to make sure the confidentiality and integrity of monetary info and recordkeeping inside an IT infrastructure? Clarify the knowledge contained on this part.
2. Who’s Richard Scrushy and why is he related to SOX?
three. Who, beneath SOX, is legally accountable for certifying and approving the integrity of the corporate and its monetary reporting to the Securities and Change Fee (SEC) and different monetary organizations?
four. The place would somebody go to search out the quarterly and annual experiences for a publicly traded firm?
5. What are a number of the prison penalties for falsifying paperwork or masking up info associated to monetary issues and SOX?
6. What’s the hyperlink between SOX compliance legislation and knowledge programs safety?
7. What sections inside SOX compliance legislation pertain to needing correct inside controls?
eight. Clarify how the sections inside SOX compliance legislation require correct safety controls as they relate to having inside controls.
9. Why are vice presidents and different government managers who’re aware of monetary efficiency information thought-about insiders to a publicly traded firm as outlined by the Securities and Change Fee (SEC)?
10. True or false: SOX compliance legislation now holds CEOs and CFOs of publicly traded corporations accountable for his or her actions as officers in a publicly traded firm.
