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Practical Guide to Corporate Governance and Accounting

Practical Guide to Corporate Governance and Accounting

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Practical Guide to Corporate Governance and Accounting: Implementing the Requirements of the Sarbanes-Oxley Act provides a complete analysis of the Sarbanes-Oxley Act, including its history, its amendments, and the related rules and regulations issued by the SEC and PCAOB. It also discusses the provisions of the Dodd-Frank Act and the JOBS Act that amend Sarbanes-Oxley.

Recent additions include the following:

  • Two new sections that discuss recent SEC Releases concerning brokers and dealers as they relate to internal compliance.
  • A new section that covers the basics of the Foreign Corrupt Practices Act (FCPA) and its relationship to internal control over financial reporting.
  • A new section covering cloud computing, which analyzes the special considerations for internal control when an entity uses a cloud-based system instead of an internal system.
  • A detailed description of COSO’s 2013 Internal Control – Integrated Framework. Accompanying this new guidance is COSO’s Internal Control over External Financial Reporting: A Compendium of Approaches and Examples, which we also discuss, particularly as it relates to smaller companies.

An issue of continuing importance is the performance of accounting and tax services by auditors for their public company audit clients. This text provides complete coverage of the limitations placed on the ability of auditors to perform such services for their clients, and provides strategies for working within these limitations.

Practical Guide to Corporate Governance and Accounting: Implementing the Requirements of the Sarbanes-Oxley Act continues to provide analysis and commentary on other SEC and PCAOB Sarbanes-Oxley rules. It includes detailed explanations of the following:

  • financial certifications (under Sections 302 and 906) required of CEOs and CFOs;
  • analysis of the important internal control reporting requirements under Section 404;
  • responsibilities and powers conferred upon corporate audit committees;
  • audit partner rotation requirements;
  • restrictions on accountants going to work for their public company clients; and
  • academic research on the effects of Sarbanes-Oxley on investors, companies, and the financial markets.

The focus throughout is on practical information. There are illustrations and observations on the tangible impact of the rules on corporations and accountants, and checklists that detail the steps individuals must follow to avoid penalties and comply with the rules and standards.