Discuss the impact of Sarbanes-Oxley on a company’s internal controls

Discuss the impact of Sarbanes-Oxley on a company’s internal  controls. Be sure to define internal controls and discuss the basic  principles for assessing internal controls.

Preview of the Answer.

The Sarbanes-Oxley Act had a significant impact on firms’ control environment. The latter includes the management and governance functioning of business agencies. The act changed the responsibility of the management team in matters dealing with financial reporting. It requires companies’ executives to certify the correctness of their firms’ financial reports. Managers that fail to notify stakeholders about false certifications.

APA

314 Words