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Iia Sept 2021 728x90
SOX-Corporate Responsibility - Financial Reports

Name

SOX-Corporate Responsibility - Financial Reports

Description

Title of the Audit Working Paper(s): SOX - SARBANES OXLEY ACT 2002

Purpose of the working paper. The Sarbanes-Oxley Act of 2002 is a U.S. federal legislation that seeks to ensure that companies with public shareholders accurately represent their financial state so that investors better understand risks. To achieve this, Sarbanes-Oxley (SOX) mandated greater auditor independence, increased corporate governance and documentation of corporate internal controls, and enhanced financial disclosures.

Audit objectives for the working paper. This template defines the Internal controls in regards to SOX.

Industry sector for your contribution (i.e. life insurance, banking, energy, etc.) The template is relevant to all industries.

Functional area for your audit program. TITLE: CORPORATE RESPONSIBILITY

Key words to help categorize programs and facilitate searches. Surbanes oxley Act, SOX

INTERNAL CONTROLS
SOX - SARBANES OXLEY ACT 2002
TITLE: CORPORATE RESPONSIBILITY
AREA: Corporate Responsibility for Financial Reports

GENERAL GUIDELINES:
This Document contains the Internal Controls based on the regulation of SOX (Sarbanes Oxley Act 2002). Implement these internal controls which can mitigate the risk of non-compliance with the regulation and avoid/mitigate the risk of legal implications due to non-compliance with the regulation (SOX). Once the Internal Controls are implemented the auditor should review the compliance with SOPs and the Regulation "SOX" on periodic basis and notify the irregularities/non-compliance. Furthermore, auditor should also look for the control weaknesses and suggest the controls if any.

Standard (Non-IT) Audit Program

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Type

Financial Compliance RCM

Procedures

Yes

Language

English