Compliance Law | Description of Compliance Law | Rationale for Using this Law | FISMA | The act requires each federal agency to develop, document, and implement an agency-wide program to provide information security for the information and information systems that support the operations and assets of the agency, including those provided or managed by another agency, contractor, or other source. | FISMA was a way of protecting information and information systems from unauthorized access, use, disclosure, disruption, modification, or destruction within federal agencies and their contractors. | SOX | SOX not only affects the financial side of corporations, it also affects the IT departments whose job it is to store a corporation's electronic records. The Sarbanes-Oxley Act states that all business records, including electronic records and electronic messages, must be saved for "not less than five years." | SOX was enacted in response to the high-profile Enron and WorldCom financial scandals to protect shareholders and the general public from accounting errors and fraudulent practices in the enterprise.
For example it states for the suppliers that “Employment is freely chosen”, “Working conditions are safe and hygienic” These principles are intended to guide your decision-making and workplace behaviour. Ideally, a code of ethics will significantly impact your work practices, because you will follow the principles when at work, but how much impact a code has depends on how your company uses it. http://www.bodyshopinfo.com/assets/c_of_c_suppliers.pdf http://www.bodyshopinfo.com/assets/c_of_c_employees.pdf Body Shop state on their website “we've helped to raise funds and global awareness of domestic violence. Since 2004, over £4m has been donated to local partners who fund the prevention, support and protection of abused women and children” http://www.thebodyshop.co.uk/values/DefendHumanRight.aspx. Body shop are defending human rights through complying with laws and giving better working conditions, and reasonable hours to work.
• SEC-Securities and Exchange Commission: The SEC’s purpose is to “serve as a repository and examiner for registration statements filed by companies planning to sell stock to the general public; providing information on securities to investors; advising on some bankruptcy reorganizations; and investigating and initiating action when federal securities laws are violated and frauds are committed.” The SEC’s job is to protect investors by regulating a policing the securities market. Friedrichs, David O. Trusted Criminals: White Collar Crime In Contemporary Society, 4th Edition. Cengage Learning, 06/2009. VitalBook file.
The audit report must show report that management has established and maintained internal controls for financial reporting. Certification of each annual report must be verified by the executive offers of the company, the report must show that they maintained established internal controls. The offices of the company must include in their reports evaluation of the internal controls effectiveness. Included in the reports, there must be reports of fraud that may have an effect that have any effect on the internal controls. The Sarbanes-Oxley Act contains 11 titles that describing rules and requirements for financial reporting in the United States (Wang,
Larry Lancaster Chairman, President, and CEO Apollo Shoes, Inc. 100 Shoe Plaza Shoetown, ME 00001 Dear Larry Lancaster: I am excited for the opportunity to do business with you and your company, Apollo Shoes. The purpose of this letter is to explain the services that my firm has to offer as well as listing the great benefits these services will be to your company. I will discuss the responsibility to follow regulations measurements. It will also explain my role in servicing my audit clients. There are three specific types of audits that my firm has to offer.
This letter serves to provide Mr. Lancaster with an overview of section 404 and other regulations that relate to the audit of internal controls as well as a synopsis of internal control risks that have and will be identified within Apollo Shoes Inc. This letter will also describe the responsibilities of our firm in regards to detecting and reporting fraud. In the SOX act, Section 404 suggests all publically traded organizations need to establish
Most of what was defined in the job description for president of Cape Cod Community College was the same as what was expected at MassBay Community College, which just recently held their own presidential search. It goes to show you that some of the core values we rely on in a president are universal in any educational institution. “A visionary educator” can mean one thing to the candidate and another to the HRM. I believe more goals and qualifications should have been outlined in the presidential profile because anyone could believe they possess the qualities needed to attain this position. The Human Resources Manager had a lot to think about upon these interviews and the entire hiring process.
The reports indicate the role of credit rating agencies in the securities markets and the number of securities professionals practicing before the commission who has helped an abetted federal securities violations and not penalized as a primary violator. The GAO report indicates whether investment banks and financial advisors assisted public companies in earnings manipulation and bafflement of financial conditions. SEC enforcement actions are taken regarding violations of reporting requirements and restatements of financial
Adhering to compliance is crucial to prevent companies from failing and taking huge financial loses. McBride must implement a system of audit compliance committees that will help mitigate non-compliance. Audit compliance committees will review financial documents, including receipts, documents, stocks, trades, shares, investment numbers and any other financial documentation. Non-compliance includes behavior and unethical actions performed by senior management that will be audited and monitored by the compliance committee. The committee will consist of internal and external auditors who will each have a part in ensuring McBride continues to perform and service the needs of customers
McMath, Jr. worked at Georgia Tech as a Vice Provost; he oversaw student academic services and improved the teaching as well as the learning environment. As a history professor, he received the George C. Griffin Award for Outstanding Teaching, the Dean James E. Dull Administrator of the Year Award, and in 2004 was named an honorary alumnus. Later on he became the dean of the college. Outside of American Populism, McMath has written Class, Conflict, and Consensus: Antebellum Southern Community Studies, Populist Vanguard: A History of the Southern Farmers' Alliance, Engineering the New South: Georgia Tech, 1885-1985, Adaptable South: Essays in Honor of George Brown Tindall, Toward a New South: Studies in Post-Civil War Southern Communities, and Is There a Southern Political Tradition? : Essays and