- Describe why most companies expect significant added costs to their firm as a result of SOX compliance.
Sources used for this project should be largely comprised of the following:
- Scholarly and peer-reviewed professional journals.
- Authoritative accounting pronouncements and standards published by the Financial Accounting Standards Board (FASB), the International Accounting Standards Board (IASB),the Public Company Accounting Oversight Board (PCAOB), the American Institute of Certified Public Accountants (AICPA), and the Securities and Exchange Commission (SEC).
- Public laws passed by Congress.
Prepare a 10-12 page research paper (excluding title page, abstract, references page, and appendices) in APA format that presents your findings. In addition, the paper should also discuss the following:
- Active GAAP and IFRS Convergence projects of the FASB and IASB.
- Potential impact on business and the accounting profession of changes in accounting standards or securities laws.
A minimum of six (6) peer-reviewed academic or professional references must be used in development of this paper.
This assignment will be assessed using the rubric provided here.
Reference
Please submit your assignment.
The following grading criteria will apply to this assignment:
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Grading Criteria |
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20% |
Using 1 slide per title, list and briefly describe SOX Titles I and VII–XI. |
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20% |
Explain how, if some of those provisions had been in effect, at least 2 of the major scandals of the early 2000’s might have been avoided. |
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20% |
Describe how certain procedures may need to change from what was done in the past. Provide at least 2 specific examples of what will need to change. |
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20% |
On another 3–5 slides, review the AICPA Code of Professional Conduct. Explain the moral reasoning/purpose for Sections 50, 90, and 100 being in the Code of Ethics. |
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20% |
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