Guide to Internal Controls Under Section 404 of the Sarbanes-Oxley ACT

Product Description
The Guide to Internal Controls Under Section 404 of the Sarbanes-Oxley Act, Second Edition examines the mandate of Section 404 and subsequent rulemaking and guidance. The SEC rules implementing the statute require the management of public companies to assess the effectiveness of the company’s internal controls over financial reporting and the company’s auditor to report on and attest to management’s assessment of the internal controls.

The Guide also examines the rules of the Public Company Accounting Oversight Board on auditor attestation. Best practices relating to internal controls are examined and recent coverage includes SEC guidance and PCAOB Auditing Standard No. 5, adopted in May 2007

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Criminal Exposure Under Sarbanes

Criminal Exposure Under SarbanesCriminal Exposure Under Sarbanes

According to qualified Dallas criminal attorneys and well experienced Los Angeles criminal defense attorneys,Visit here http://houstoncriminal-lawyer.blogspot.com

certifying periodic reports can be a source of extreme exposure under Sarbanes. Specifically, Sections 906 and 302 of the Sarbanes-Oxley Act enacted twin provisions of the United States Code requiring certification by the CEOs and CFOs of corporate documents. Each section gives two levels of criminal penalties, depending upon whether the violation was knowing or willful.

Under 18 U.S.C., all CEOs and CFOs certify, in writing, that every periodic report filed by their public company under §13(a) or §15(d) of the Exchange Act, fairly represents the financial condition of the company. 18 U.S.C. §1350 also provides criminal penalties of up to 20 years for willful violations and up to 10 years imprisonment for violations where the executive knowingly signed a false certification.

Under 15 U.S.C. §7241, a “principal executive officer of officers and principal financial officer of officers ¼ or persons performing similar functions,” of a public company must certify each quarterly and annual report filed by the company under the new Exchange Act Rules §13(a) or §15(d). Furthermore, “a separate certification must be provided for each certifying officer, and the language of the certification cannot be varied from the language contained in” the statute.

As a general rule, certification is made based on the knowledge of the certifying officer, and ignorance will not be a defense to a charge of falsely certifying a quarterly or annual report if the certifying officer should have known that the certification was false. Therefore, the implementation of §302 of the Sarbanes-Oxley Act “creates a heavy burden on the CEO and CFO to become personally aware of material information on a timely basis, and also makes it difficult to argue in any investigation that the CEO or CFO in fact had no knowledge of material information that was available.”

Unlike §906 of the Sarbanes-Oxley Act, most cases of false certifications under §302 will be pursued civilly through SEC proceedings, however the DOJ may seek to prosecute §302 violations under criminal statutes that prohibit the use of mail, telephones or Internet to commit fraud under 18 U.S.C. § 1341 (mail fraud) or 18 U.S.C. § 1343 (wire fraud). Furthermore, an officer who “willfully” makes a false Sarbanes-Oxley Act §302 certification may be liable for criminal violation of the Exchange Act, which results in a maximum of up to 20 years imprisonment and up to $5 million in fines, under §1106.

It is important for certifying officers to document specific procedures required under the statute. It may be advisable to obtain written certification or representations from other officers and employees directly responsible for the information in the report.Visit here http://houstoncriminal-lawyer.blogspot.com

How to do Bank Reconciliation in under 3 minutes

In this bank reconciliation video (www.ezyrecon.com) we will show you how you can do your bank reconciliation in under 3 minutes by simply downloading the book and bank files in an Excel or a csv file. You read it right, by using Ezyrecon, you simply download the book and bank file into Excel to do the reconciliation. No manual intervention is needed from you- there is virtual accountant that will do the analysis for you- it can even be do the necessary journal entries for the reconciling items, if any. Ezyrecon is written in Visual Basic and uses the familiar Excel spreadsheet as the user interface. In order to the the bank reconciliation, you simply click three (3) click buttons and wait for 3 minutes or take a coffee break. . Ezyrecon will produce the suggested AICPA final two (2) column bank reconciliation report from unadjusted book and bank to reconciled book and bank balances. Ezyrecon is Sarbanes-Oxley compliant, thus, it can be used by publicly listed companies. Since Ezyrecon reconciles directly to the general ledger, the user has no additional analysis to do except to print the final report.

EzyRecon – Bank Reconciliation in under 3 minutes

In this bank reconciliation video (www.ezyrecon.com) we will show you how you can do your bank reconciliation in under 3 minutes by simply downloading the book and bank files in an Excel or a csv file. You read it right, by using Ezyrecon, you simply download the book and bank file into Excel to do the reconciliation. No manual intervention is needed from you- there is virtual accountant that will do the analysis for you- it can even be do the necessary journal entries for the reconciling items, if any. Ezyrecon is written in Visual Basic and uses the familiar Excel spreadsheet as the user interface. In order to the the bank reconciliation, you simply click three (3) click buttons and wait for 3 minutes or take a coffee break. After a few minutes, Ezyrecon will produce the suggested AICPA final two (2) column bank reconciliation report from unadjusted book and bank to reconciled book and bank balances. Ezyrecon is Sarbanes-Oxley compliant, thus, it can be used by publicy listed companies. Since Ezyrecon reconciles directly to the general ledger, the user has no additional analysis to do except to print the final report.

How to do a bank reconciliation in under 3 minutes

In this bank reconciliation video we will show you how you can do your bank reconciliation in under 3 minutes by simply downloading the book and bank files in an Excel or a csv file. You read it right, by using Ezyrecon www.ezyrecon.com , you simply download the book and bank file into Excel to do a bank reconciliation. No manual intervention is needed from you- there is a virtual accountant, called “BEN”, that will do the analysis for you- it can even be do the necessary journal entries for the reconciling items, if any. Ezyrecon is written in Visual Basic and uses the familiar Excel spreadsheet as the user interface. In order to do the the bank reconciliation, you simply click three (3) click buttons and wait for 3 minutes or take a coffee break. After a few minutes, Ezyrecon will produce the suggested AICPA final two (2) column bank reconciliation report from unadjusted book and bank to reconciled book and bank balances. Ezyrecon is Sarbanes-Oxley compliant, thus, it can be used by publicy listed companies. Since Ezyrecon reconciles directly to the general ledger, the user has no additional analysis to do except to print the final report.

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