Sarbanes-Oxley and the law of unintended consequences
Article Abstract:
The US-based Sarbanes-Oxley (SOX) has demanded that auditors go back to basics and stop cutting corners by invoking 'risk-based strategic systems methodologies'. SOX requires CEO's and financial officers to acknowledge by signature their personal responsibility for the accounts and creates an oversight superstructure for auditors, which prohibits their engagement as consultants.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2004
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Esoteric accounting: It's tough for auditors
Article Abstract:
Auditors face unconventional situations in their practice was studied as accounting rules moved into the domain of academic fantasy. It was observed that the reporting rules were getting increasingly complex due to which auditing difficulties were compounded and even at the basic level auditors could get it wrong.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2006
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