Essay on Lab1 Assessment

732 Words 2 Pages
Lab #1 – Assessment Worksheet
Assess the Impact of Sarbanes-Oxley (SOX) Compliance Law on Enron 1. What section of the SOX compliance law requires proper controls and hence, security controls, to ensure the confidentiality and integrity of financial information and recordkeeping within an IT infrastructure? Explain the information contained in this section.
SOX Section 404 mandates that all publicly-traded companies must establish internal controls and procedures for financial reporting and must document test and maintain those controls and procedures to ensure their effectiveness. The purpose of SOX is to reduce the possibilities of corporate fraud by increasing the stringency of procedures and requirements for financial reporting.
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7. Go into the Edgar Database and find the most recent 10K or 10Q for Microsoft, Nike, and Cisco. Who signed off on the 10K for each of those companies?
Microsoft: Assistant Director, Nike: Assistant Director, and Cisco: Assistant Director.
8. What are some of the criminal penalties for falsifying documents, or covers up information related to financial matters and SOX?
Some of the criminal penalties for falsifying documents or cover ups

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