26 Jun DESCRIBE WHY MOST COMPANIES EXPECT SIGNIFICANT ADDED COSTS TO THEIR FIRM AS A RESULT OF SO COMPLIANCE.
Conduct research to determine the impact of the Sarbanes-Oley Act (SO), Generally Accepted Accounting Principles (GAAP), Generally Accepted Auditing Standards (GAAS), and the International Financial Reporting Standards (IFRS) on the accounting profession and decision-making of publicly traded companies.In discussing the Sarbanes-Oley Act (SO), eplain the following:The purpose of SO.Describe SO Titles I–VI. Use this Web site as a good reference. Eplain specifically why eternal auditors are no longer permitted to do significant consulting for a firm that it is auditing.Describe why most companies expect significant added costs to their firm as a result of SO compliance.Sources used for this project should be largely comprised of the following:Scholarly and peer-reviewed professional journals.Authoritative accounting pronouncements and standards published by the Financial Accounting Standards Board (FASB), the International Accounting Standards Board (IASB),the Public Company Accounting Oversight Board (PCAOB), the American Institute of Certified Public Accountants (AICPA), and the Securities and Echange Commission (SEC).Public laws passed by Congress.Prepare a 10-12 page research paper (ecluding title page, abstract, references page, and appendices) in APA format that presents your findings. In addition, the paper should also discuss the following:Active GAAP and IFRS Convergence projects of the FASB and IASB.Potential impact on business and the accounting profession of changes in accounting standards or securities laws.A minimum of si (6) peer-reviewed academic or professional references must be used in development of this paper.This assignment will be assessed using the rubric provided here.Reference Grill, B. (2013). The Sarbanes-Oley Act: An introduction. Retrieved from the Gaebler.com Web site: http://www.gaebler.com/The-Sarbanes-Oley-Act-An-Introduction.htm Please submit your assignment.The following grading criteria will apply to this assignment:Grading Criteria20%Using 1 slide per title, list and briefly describe SO Titles I and VII–I.20%Eplain how, if some of those provisions had been in effect, at least 2 of the major scandals of the early 2000’s might have been avoided.20%Describe how certain procedures may need to change from what was done in the past. Provide at least 2 specific eamples of what will need to change.20%On another 3–5 slides, review the AICPA Code of Professional Conduct. Eplain the moral reasoning/purpose for Sections 50, 90, and 100 being in the Code of Ethics.20%Submit 16–20 slides including speaker notes.Use clip art and a colored background to provide visual interest.Include in-tet citations and a reference slide in APA style.For assistance with your assignment, please use your tet, Web resources, and all course materials.Unit Materials phyllis young on Tue, 2014-11-04 15:32 9639 4.54383: 50.00 10-12 pages in APA format Can you help body preview (0 words)file1.doc preview (2822 words)Running OF THE SARBANES-OLEY OF SARBANES-OLEY (SO) 12IMPACT THE SARBANES-OLEY (SO)Sarbanes-Oley Act (SO) is that was the US Congress in order the public shareholders errors and in companies, the accuracy of business information (Pounder, The Securities and Echange Commission (SEC) in US manages act. It sets limits compliance and rules on requirements to met. The Sarbanes-Oley instituted a way to reply to financial that happened in early such WorldCom and which led to the confidence investors. The act and Sarbanes were the Congress (Pou
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