As part of the
Sarbanes-Oxley Act, corporate officers are no longer able to “pass the
buck” of responsibility for ensuring adequate controls over financial
statements and reporting activities thus ensuring the accuracy of
financial statements. Assess the adequacy of the provisions contained
within the Act, indicating whether or not you believe requirements will
improve the accuracy of financial statements and reporting. Provide support
for your rationale.
requirements contained in the Act for CEO and CFOs to certify the adequacy
of controls and financial statement accuracy, evaluate your comfort level
with this requirement should you become a CFO of a publically traded company.
Provide support for your rationale.
Based on the company
you researched in the e-Activity, assess the financial “red flags” that
would have indicated that the company may be having financial difficulty
providing suggestions related to how management should address these
problems. Provide support for your rationale. e-Activity: Search the
Internet for a publically traded company that recently filed for
bankruptcy protection. Review the most recent financial information for
the company and be prepared to discuss.
Evaluate whether or
not you are confident that the models used for predicting bankruptcy would
have been adequate to predict the invariable bankruptcy of the company you
researched. Provide evidence supporting your position.
Please make sure that answer is in at least one paragraph form and keep answers and questions together when answering the question. Thanks