The Sarbanes Oxley Act of 2002

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This video discusses the main effects of the Sarbanes-Oxley Act on companies, executives, and audit firms. Sarbanes-Oxley (also known as SOX) is a federal law that was passed by Congress in response to a wave of accounting frauds in 2002. SOX requires a public company's CEO and CFO to certify that the company's financial statements are accurate. It also increased the penalties for accounting fraud and required firms to test the effectiveness of their internal controls. The company must then issue a report on the effectiveness of its internal controls; similarly, the company's auditor must examine the internal controls of the company and issue a report (this is known as Section 404 of Sarbanes-Oxley). SOX also prohibited audit firms from performing many types of nonaudit services for audit clients, and it created the Public Company Accounting Oversight Board (PCAOB) to regulate the audit industry. Audit firms are required to register with the PCAOB, and the PCAOB creates auditing standards and periodically samples audits to make sure they are of high quality.-
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Пікірлер: 40

@Gracian40 10 ай бұрын

I am studying to take the PHR exam. Watching your tutorials has given me a much clearer understanding of SOX and how SOX compliance works

@nathaliemiami2313 6 жыл бұрын

Without this vide I wouldn't have passed my Audit class, Thank you

@Edspira 6 жыл бұрын

Congrats on passing audit! I'm happy to have been a small part of your success. Best of luck to you!

@rubyblue2779 3 жыл бұрын

@julianpark93 4 жыл бұрын

Dude you need to be on every big 4’s training program!!! This stuff needs to be explained to auditors who have no idea what their control testing is trying to accomplish and why

@Ziphon 4 ай бұрын

This video was also great for me as I am studying various laws and regulations around companies for a legal class in my B.S CyberSecurity program. Thank you lots!

@nomadd27828 2 жыл бұрын

Really loved your videos. They are explaining the basics so clearly. Will make things clear for anyone :) Thank you so much for making them available for all in youtube free of cost. Really appreciate it

@sunkyeongyi 5 жыл бұрын

I watched some others, your explanation is the best! Thank you.

@bluesun2001 4 жыл бұрын

I like your passion, sir, thank you!

@jokousita 4 жыл бұрын

Thanks for creating these videos, they're really helpful!

@panostolis9147 3 жыл бұрын

A succinct and sound explanation, thanks!

@SteveDavisCarGuy 4 жыл бұрын

Very good explanation, I needed this for my paper 🙌🏾

@Edspira 4 жыл бұрын

Glad it was helpful!

@SteveDavisCarGuy 4 жыл бұрын

Edspira thank you

@blueandlemon2256 Жыл бұрын

Thank you sir ! You explained it very nice and easy to understand !!! what a great workkk.

@MyFinancialFocus 2 жыл бұрын

Independence is key in auditing.

@LorenzoMarkovian 6 жыл бұрын

Great intro to SOX. Thanks

@Edspira 6 жыл бұрын

Thanks!

@tanyakruyt5122 5 жыл бұрын

Thank you!

@shailendrakhemka 4 жыл бұрын

which software did you use to make this video?

@richardskillz2 3 жыл бұрын

This was extremely helpful! Thx

@Edspira 3 жыл бұрын

No problem!

@sanjalichaudhary3691 4 жыл бұрын

Great explaination!!! Thankyou.

@jacksonbianco2934 9 ай бұрын

This is great, better than the lecture from my professor in law school lol

@minhuctran4708 3 жыл бұрын

Love this video and your energy!

@simmzzzz 4 жыл бұрын

Great explanation. Thank you!

@kausiksantra4493 2 жыл бұрын

You are awesome, can you make below videos 1. Pcaob guideline on ICFR audit 2. Aicpa guidelines on SSAE18 Many many thanks.

@MyFinancialFocus 2 жыл бұрын

Enron's income statement reported a 100+% increase in revenues one year and nobody even knew where their revenues were coming from lol.

@peter9910 7 жыл бұрын

Great video, thanks!

@tarekalsherif57 5 жыл бұрын

That is a very good presentation of the SOX thank you

@augustinekamwambi4658 Жыл бұрын

great indeed

@karimtazi3988 4 жыл бұрын

excellent

@yhl1994 4 жыл бұрын

Chef John???

@alexismarquez3674 2 жыл бұрын

EUNICE PINO-DUNN IS A TRUE FRIEND TO ME :) EUNICE PINO-DUNN IS FAMILY ORIENTED JUST LIKE ME ❤️ EUNICE PINO-DUNN IS NOT UNKIND JUST LIKE ME. EUNICE PINO-DUNN RESPECTS HER UNCLE'S FROM CAMACHILLE, ZAMBOANGA CITY.