« previous next »

Author Question: A net loss always increases liabilities. a. True b. False Indicate whether the statement is ... (Read 61 times)

Ebrown

  • Hero Member
  • *****
  • Posts: 567
on: Jul 6, 2018
A net loss always increases liabilities.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

Discuss the impact that the Sarbanes-Oxley Act of 2002 had on internal auditing.
 
  What will be an ideal response?


aidanmbrowne

  • Sr. Member
  • ****
  • Posts: 305
Reply #1 on: Jul 6, 2018
Answer to Question 1

False

Answer to Question 2

Section 404 of SOX requires companies to include in their annual reports a statement regarding the effectiveness of internal controls and the disclosure of any material weaknesses in a firm's internal controls system. This requirement has greatly boosted the need for internal auditors and SOX compliance specialists, but more important, has enhanced the value of the internal audit function within companies, as businesses have strengthened internal controls in response to SOX.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Species richness increases with island size. Species richness increases with island size.
Arctic and alpine cushion plant form and orientation increases heat gain from sunlight and the surro Arctic and alpine cushion plant form and orientation increases heat gain from sunlight and the surro
True-color view of Mars seen through NASA's Hubble Space Telescope in 1999 True-color view of Mars seen through NASA's Hubble Space Telescope in 1999
The “Old Man” from La Chapelle shows evidence of extensive tooth loss and bone resorption. The “Old Man” from La Chapelle shows evidence of extensive tooth loss and bone resorption.
Invasive species and the biodiversity loss Invasive species and the biodiversity loss
Polyploidy increases fruit size Polyploidy increases fruit size
Video: New DNA Strand Replication

For a complete list of videos, visit our video library