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Assignment代写:Sarbanes-Oxley Act

2018-02-11 来源: 51due教员组 类别: 更多范文

下面为大家整理一篇优秀的assignment代写范文- Sarbanes-Oxley Act,供大家参考学习,这篇论文讨论了萨班斯法案。2001年,美国安然公司倒闭,引起了美国股市的剧烈动荡,投资人纷纷抽逃资金,此次事件之后,美国就颁布了《萨班斯法案》。《萨班斯法案》最大举措是设立公众公司会计监督委员会,实施对注册会计师行业的监督。由此,会计行业的监督权由行业自律组织转向行业外的独立权利机构。法案的另一特点是对违法行为制定了明确且严厉的处罚措施,让可能违法犯罪的市场参与者不敢违法。

Sarbanes-Oxley Act,萨班斯法案,assignment代写,paper代写,留学生作业代写

The biggest initiative of the Sarbanes-Oxley Act is the establishment of a Public company accounting Oversight Committee, which is also known as the public Company accounting Reform and Investor Protection Act. For a long time, the daily supervision and inspection of CPA in the United States is mainly exercised by the self-discipline organization of CPA Industry and the American CPA Association. But because the American society of Accountants in the source of funds, personnel arrangements, technical support and many other aspects of accounting firms closely linked, its supervision of the accounting industry has been questioned. At the same time, a large number of audit failures or oversight cases, also reflects the United States CPA Association's industry supervision failure. The Sarbanes-Oxley Act requires the establishment of a public company accounting Supervision Committee to implement the supervision of the CPA industry. Therefore, the supervision power of the accounting profession is shifted from the industry self-discipline organization to the independent right body outside the industry.

The supervision of CPA industry in China mainly relies on the Chinese CPA Association and its subordinate provincial and municipal associations. The Sino-Note Association is not only the spokesperson of CPA firm and CPA, but also the industry supervisor, and it is both the formulation of audit standards and the supervisor of audit standards. This makes it hard to believe that the China-Note Association will be able to stand in a fair position when supervising accounting and auditing firms. Therefore, China's supervision of the accounting industry can not rely entirely on the Sino-Note Association. The SFC or an independent commission supervised by the SFC shall be responsible for overseeing the practice of accounting firms and certified public accountants, and shall have the right to penalize the offending accounting firms and certified public accountants.

The core of Sarbanes-Oxley Act is to strengthen the supervision of financial system and accounting internal control through legislation, and to increase the financial transparency of enterprises and to repair all kinds of defects in time. After the enactment of the bill, the internal control system of listed companies in the United States has improved markedly. In the implementation of internal control to protect the security of enterprise property, improve the accuracy of financial information, strengthen business management, and cooperate with the development of external audit has achieved extensive results. The 103, 302 and 404 sections of the bill clearly set out the requirements for internal control. Among them, the most difficult to operate, the most complex, the highest cost of the 404 section. This article provides that management should report internal controls on financial reporting. The auditor should also certify and report the management's evaluation.

The development of internal audit practice in China lags behind that in the West. At present, many enterprises ' internal audit work is only for financial and accounting matters. This requires that the internal audit departments and personnel construction and the current enterprise system requirements are not adapted, internal audit has not fully played the evaluation and improvement of unit risk management, improve the efficiency of control management functions. Therefore, it is necessary to update the concepts and methods to meet the requirements of the rapid development and improvement of entrepreneurial knowledge, information delivery and innovation ability. The new definition of internal audit adopted by the International Association of Internal Auditors does not emphasize the internal auditor's identity, but emphasizes the internal auditor's participation in internal control evaluation and risk management, helps the enterprise to achieve the goal, and locates the internal auditor as the Enterprise consultant and risk management expert. Change the purpose of internal audit, from the inspection and supervision of accepted accounting standards to an independent, objective confirmation and advisory activities. Internal audit personnel through the internal control of the integrity of the evaluation and control test to determine the inner defects, and the internal control of the defects of the process reengineering recommendations, through the risk identification and evaluation methods to reveal the various risks faced by enterprises, so as to put forward effective avoidance and risk reduction recommendations. The internal audit function has shifted from the former economic supervision function to more provide the management function of the internal management Mechanism consulting service, so the audit focus is no longer the simple confirmation error and the test control validity, but emphasizes the confirmation risk and tests whether these risks are managed effectively.

The Act stipulates in the chapter on the independence of accountants that accounting firms and accountants are not allowed to provide audit services to public companies without providing 9 services, such as accounting records of audited clients and bookkeeping or other business of financial statements, design and implementation of financial information systems, assessment or valuation operations, Fair business or issue a practical donation report. Non-audit service can damage the auditing independence standard and accountants hold the conflict of interests between different roles.

There are few types of non-audit services performed by CPA firms in China, and the proportion of Non-audit services to total income is very small. Therefore, the impact of audit independence is not big. However, the audit independence will be undermined by the provision of Non-audit services to clients by CPA firms and CPA. Moreover, China's CPA industry supervision system is not perfect, each can offset the audit independence has adverse effects of measures not effective. Therefore, CPA firms and certified public accountants should be barred from providing audit services to audit clients while providing non-audit services. But not all Non-audit services undermine audit independence or, at the very least, do not require all non-audit services to be banned. According to the relationship between Non-audit service and audit service, Non-audit Services can be divided into: non-audit services closely related to audit service, Non-audit service that can be carried out only by accountants, and non-audit services which can coexist with audit service. The non-audit services in our country can be regarded as these three types, which should be determined according to the specific situation of our country.

AICPA Since its inception, has been responsible for the development of audit standards, professional ethics and follow-up education standards, and organize a national unified examination. But now, under section 103 of the Sarbanes-Oxley Act, the newly formed public company's accounting and prosecutorial Board is responsible for the development of audit and related forensic guidelines, quality control guidelines and ethics. The Board may also absorb the guidelines recommended by the professional accountants ' bodies or advisory bodies and make amendments. Providing more and more detailed, even AICPA, as the largest and most influential accounting professional body in the United States, can play an active role in providing guidelines to the Public Company Accounting Inspection Committee. During the enactment of the bill, AICPA, although it supported the establishment of a public company accounting Inspection Committee to act as a disciplinary and quality control responsibility for accounting firms, but objected to the right to produce the code, which was not accepted. In the end, AICPA only accepted the act.

Another feature of the bill is that it makes clear and severe penalties for the violation of the law, allowing market participants who may commit crimes to do so. Criminal liability for the preparation of illegal financial reports, be liable to a fine of USD 5 million or 20 years ' imprisonment; criminal responsibility for tampering with documents is up to 20 years ' imprisonment, legal liability for securities fraud, up to 25 years ' imprisonment and legal liability for retaliation against the informant, up to 10 years ' imprisonment. The SFC's annual report guidelines stipulate that when companies announce the annual reports of listed companies in 2005, the head of the company, the person responsible for accounting work and the head of accounting institutions must declare that "to ensure the authenticity and completeness of the financial reports in the annual reporting" is a reference to the Sarbanes-Oxley Act, but this is In our country, the legal liability for various kinds of accounting auditing is mainly administrative responsibility and criminal liability. Whether it is a fine or a criminal of the responsible person, our regulations are far away from the Sarbanes-Oxley regulations, and the opportunity cost of breaking the law is low. Therefore, the key to increase the intensity of supervision and punishment lies in the comprehensive use of law, administration, public opinion and other forces to improve the cost of credit, prevent and combat accounting, audit crimes.

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