Internal Accountant's Report

Internal controls Report Jessica Weber La Toyia Tilley January 9, 2012 University of Phoenix Internal Accountants Report The allude of occupational fraud and abuse on the keep attach to Occupational fraud and abuse is a form of putridness that is used to better ones personal approach shot by either deliberately misusing or by misappropriation of his or hers employers assets or resources. The three of aftermath factors of occupations fraud and abuse be greed, wages in kind, and troubled expectations (Wells, 2011, pp. 419-420). Occupational fraud and abuse can cause the corporation to have a devastating effect by losing millions of dollars, bad the companys reputation, and can cause the companys management to look like they lack the ability of doing their job. U.S. political oversight of account fraud and abuse and its affect on the company Ever since the recent business failures such as Enron, orbicular Crossing, WorldCom, and many others (Latshaw, 2003, p. 13), the U.S. government has been forcing stricter rules and regulations on companies and auditors with the use of the Sarbanes-Oxley Act. thither are several bars that the Act has for the accounting profession.

The first beingness the psychiatric hospital of the Public Company Accounting inadvertency Board (PCAOB), which is make up of five members that are alone independent of the accounting profession (Latshaw, 2003, p. 13). This board has the power to discern auditing operations of unexclusive accounting firms, and to set and enforce auditing, attestation, lineament control and ethics standards for public company auditors (Latshaw, 2003, p. 13). Another restriction is t hat the Act besides lists several consultin! g operate that are direct considered to be banned: bookkeeping information systems design and implementation appraisals or valuations services actuarial services intrinsic audits management and human resources services broker/dealer and investment banking services legal...If you command to get a full essay, order it on our website: OrderEssay.net

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