Corporate law

shareholders and stakeholders from fraudulent accounting practices (Protiviti 2011). The creators of the Sarbanes-Oxley act were Paul Sarbanes, and Michael Oxley. The act was designed to provide regulation for financial practices, and to provide corporate governance. The idea behind the Sarbanes-Oxley act was to provide some time of governing body regarding accounting practices within business, and to hold everyone to the same standard. The main focus behind the Sarbanes-Oxley act is centered on…

o Sole Proprietorship: o Liability- Business owners do not possess any particular differences in regard to assets. The assets of the business can really be used in many ways, including the way to pay any personal debt that was acquired also the personal assets are a way to pay the business debts too because when dealing with a sole proprietorship it is subject to being accessible to unlimited liability. o Income Taxes – The income or the revenue brought in with a sole proprietorship is always…

Summary Sahara India is a major Indian corporate group fondly known as the “Sahara India Pariwar” which was established in the year 1978. Subrata Roy is the Chairman and Managing worker of the Sahara Group of companies. Mr. Subrata Roy started of his astonishing journey with a vision that was backed up by the belief that “Emotion is the key to Success”. Initially he started of with a saving of Rs.2000 and in a span of 29years, the Sahara India Pariwar has just grown from 42 depositors in all…

of federal security laws. After the Enron’s collapse some other companies were investigated and charged by the SEC in 2002 and 2003 which include WorldCom Inc, Xeron Corporation, and Bristol-Myers Squibb.…

The relationship between management monitoring and firm performance Introduction From previous years, corporate governance (CG) reforms provided a significant important function comply with regulations. The reforms does play an important role in improving transparency and accountability that appear in three key areas which are benefits in the provision of quality financial reporting, reduction in management overconsumption and improved management monitoring (Psaros 2009, p25). There are numerous…

Since then twenty new accounting standards were issued by the Ministry of Finance of the Russian Federation aiming to align accounting practices with IFRS. Despite these efforts essential differences between national accounting standards and IFRS remain. Since 2004 all commercial banks have been obliged to prepare financial statements in accordance with both national accounting standards and IFRS. Full transition to IFRS is delayed and is expected to take place from 2011. Singapore: In…

reform the countries corporate governance practices in public corporations. These acts could relate to different professions or industry. These codes of ethics would be considered in cases of conflict of interest, disclosure of relevant information, compliance to laws and codes of ethics. These ethical issues affect managers in decision making as these decisions affect the image of the organization having an effect on sustainability. Some managers had to rely on studies on corporate governance…

explain major assumptions and identifies areas of risk. The risk that would be identified are: A review of cash flow statements and a recommendation of implementing new short-term working capital strategies on long-term cash flow, an explanation of corporate risk mitigation techniques…

regulated, or if there are other legal and compliance concerns, state them in this section. The laws covering the internet are varied and quite complex in the United States with the financial system to the medical system heavily regulated. Starting off the Sarbanes-Oxley was enacted in 2002, the Sarbanes-Oxley Act is designed to protect investors and the public by increasing the accuracy and reliability of corporate disclosures. It was enacted after the high-profile Enron and WorldCom financial…

The transferrable assets are subject to regular restrictions like laws that protect assets from fraudulent conveyance. Florida Statute Chapter 726 defines fraudulent conveyance as completing a false transfer of property to a third party with sole intentions to mislead a potential creditor. A remedy of the Chapter 726…