The Sarbanes Oxley Act of 2002
This video discusses the main effects of the Sarbanes-Oxley Act on companies, executives, and audit firms. Sarbanes-Oxley (also known as SOX) is a federal law that was passed by Congress in response to a wave of accounting frauds in 2002. SOX requires a public company's CEO and CFO to certify that the company's financial statements are accurate. It also increased the penalties for accounting fraud and required firms to test the effectiveness of their internal controls. The company must then issue a report on the effectiveness of its internal controls; similarly, the company's auditor must examine the internal controls of the company and issue a report (this is known as Section 404 of Sarbanes-Oxley). SOX also prohibited audit firms from performing many types of nonaudit services for audit clients, and it created the Public Company Accounting Oversight Board (PCAOB) to regulate the audit industry. Audit firms are required to register with the PCAOB, and the PCAOB creates auditing standards and periodically samples audits to make sure they are of high quality.-
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Пікірлер: 40
Dude you need to be on every big 4’s training program!!! This stuff needs to be explained to auditors who have no idea what their control testing is trying to accomplish and why
Without this vide I wouldn't have passed my Audit class, Thank you
@Edspira
6 жыл бұрын
Congrats on passing audit! I'm happy to have been a small part of your success. Best of luck to you!
@rubyblue2779
3 жыл бұрын
I7
I am studying to take the PHR exam. Watching your tutorials has given me a much clearer understanding of SOX and how SOX compliance works
I watched some others, your explanation is the best! Thank you.
This video was also great for me as I am studying various laws and regulations around companies for a legal class in my B.S CyberSecurity program. Thank you lots!
Really loved your videos. They are explaining the basics so clearly. Will make things clear for anyone :) Thank you so much for making them available for all in youtube free of cost. Really appreciate it
I like your passion, sir, thank you!
Thanks for creating these videos, they're really helpful!
A succinct and sound explanation, thanks!
Thank you sir ! You explained it very nice and easy to understand !!! what a great workkk.
Great explanation. Thank you!
Great explaination!!! Thankyou.
Great video, thanks!
Very good explanation, I needed this for my paper 🙌🏾
@Edspira
4 жыл бұрын
Glad it was helpful!
@SteveDavisCarGuy
4 жыл бұрын
Edspira thank you
Love this video and your energy!
Thank you!
Great intro to SOX. Thanks
@Edspira
6 жыл бұрын
Thanks!
That is a very good presentation of the SOX thank you
Independence is key in auditing.
This was extremely helpful! Thx
@Edspira
3 жыл бұрын
No problem!
You are awesome, can you make below videos 1. Pcaob guideline on ICFR audit 2. Aicpa guidelines on SSAE18 Many many thanks.
This is great, better than the lecture from my professor in law school lol
Enron's income statement reported a 100+% increase in revenues one year and nobody even knew where their revenues were coming from lol.
which software did you use to make this video?
excellent
great indeed
Chef John???
j397!!!
EUNICE PINO-DUNN IS A TRUE FRIEND TO ME :) EUNICE PINO-DUNN IS FAMILY ORIENTED JUST LIKE ME ❤️ EUNICE PINO-DUNN IS NOT UNKIND JUST LIKE ME. EUNICE PINO-DUNN RESPECTS HER UNCLE'S FROM CAMACHILLE, ZAMBOANGA CITY.
It sox
lucid explaination
Thank you!