How to Audit-Proof Your Business Police and auditors have one thing in common: they make even the most honest, law-abiding citizens nervous. After all, who hasn't felt their heart jump at the sound of a police siren close behind them even if they are obeying all traffic rules? Generally, the same feeling comes over people when the topic of an IRS audit arises. Most taxpayers … [Read more...]
Disadvantages of Sarbanes Oxley
The Sarbanes-Oxley Act of 2002 (SOX) was passed to prevent companies from engaging in accounting fraud similar to that perpetrated by Enron and Worldcom. While SOX increased the accuracy and validity of financial information for outside stakeholders, it created some challenges for businesses attempting to comply with SOX guidelines. Internal Controls SOX compliance … [Read more...]