Internal consistency

Ethics play a central role in accounting and the business world in general by addressing questions about the right or wrong of the used methods (Onyebuchi, 2011). Pakaluk (XXXX) states that one of the main reasons for the financial crisis in the year 2008 was caused by unethical accounting. (Pakaluk & Cheffers, 2011, p. 28). AIG, a big insurance company, sold so called credit default swaps (CDS) which serve as an insurance for the buyer XXXXX. If the debtor is not able to pay the debt, the…

Overall, the experiment showed that heats of combustions of substances can be determined via bomb calorimetry. Introduction The first law of thermodynamics states that energy is conserved.1 Using that law it can be said that the change in the internal energy of a system () depends on the heat added (q) to the system and the work (w) done by the system.1 Equation 1 illustrates the relationship between the three variables.…

Once a locksmith is gone, do we ever think how he came and made our life easy and what could have happened if he had not been there with his much-needed services when he was really expected like anything? A qualified and skilled locksmith is just like any other professional we can see around, but there is something else to their service that teaches everyone some lessons of life. Just take a simple exercise where you have to analyze the last emergency service visit of your locksmith fulfilling…

Definitions Corporate Accountability- When you have to be responsible for your stakeholders Fraud- A criminal acts to achieve more money Whistleblower- A person who knows that the company has been doing illegal acts and decides to tell the government. Canadian Tire Reflecting on Canadian Tire’s Code of Conduct What do I find Interesting about this company’s Code of Business Conduct? Something that I found interesting about Canadian Tire’s code of conduct is that integrity, honesty, and…

1). The requirement of section 301.4 of the Sarbanes-Oxley Act of 2002, the audit committee of a public company needs to establish procedures for the receipt, retention, and handling of complaints received by the company regarding accounting, internal controls, or auditing matters. They are also required to establish procedures for those complaints to be treated confidentially, and for the submission process, the employees can submit anonymous their complaints about the accounting or auditing…

PART I: Where you see that theme borne out (AND/OR contradicted) in "Millennium Approaches" (additional examples or explanations beyond what is in the theme statement). Disease is a predominant theme throughout Angels in America that affects every main character. AIDS epidemic rises the climate of hatred and intensifies interpersonal relationships. For instance, Prior’s disease is the fundamental reason that changes his relationship with Louis that he lost him and his loved ones soon after.…

According to section 301.4 of SOX 2002, the public company audit committee is required to implement procedures for the receipt, retention, and treatment of complaints received by the whistleblowers concerning auditing matters, internal accounting controls, or accounting. Also, the complaints have to be treated confidentially by the audit committee by making whistleblowing procedures for the submission around dubitable accounting or auditing matters to be anonymous. To encourage this, the audit…

required an annual management assessment of Internal Control and an external audit that needs to provide an opinion on its reliability. The section requires a report that acknowledge the responsibility of management for creating and maintaining internal controls in order to manage the risk that can potentially cause inaccurate, fraudulent or incomplete data to be disclosed to stakeholders. The report should also contain the effectiveness of the internal control structure as of the end of the…

as defined by Sarbanes-Oxley Act (SOX). The company was deficient in internal control process in the area of documentation and evidence that controls had been performed which could lead to material weakness. Sarbanes-Oxley (SOX) was created in 2002 because of all the accounting fraud that were being reported from publicly held companies. SOX job is to protect investors by preventing financial statement fraud, strengthen internal control, and punishing executives for fraud. To be incompliance…

There are a lot of many different companies in many different industries across the globe. One of those industries is the accounting industry. Which has many different careers and titles; there is tax accountants, forensic accountants, financial advisors, and auditors. This essay will discuss what the PCAOB does, some consequences if firms do not do their audit correctly, a recent lawsuit, and what they did in result after the lawsuit. Like other accounting firms, the PCAOB has several duties.…