The Sarbanes-Oxley Act: Protecting Corporate Assets Essays -- SOX Act,

inborn Controls. Kind of like a brick besiege, or a fire w solely on a computer. Internal controls act as a itinerary to keep a lodge and its assets safe, as well as launch sure that the comp some(prenominal) maintains complete and perfect score records. Internal controls argon in charge of the over totally well beingness of a company from its assets to its employees, even to its sales and reputation. A lot of things are involved with intragroup controls such as Sarbanes-Oxley Act, stock well being, well being and guard of assets and accounting accuracy. One of the Internal Controls main purposes is that of charge a companies assets safe, whether that be from employees, robbers, or misuse from outside parties. As one can work up keeping a companies assets would be a very principal(prenominal) trade union movement that would keep a company running smoothly and successfully if all went well. Internal Controls will work to maintain the safety of all assets of a compa ny by assuring no unauthorized use or access, and keeping obturate watches over all records and information. Another main problem of the internal control is that of keeping the accounting records up to date and accurate at all times. In the past months there has been quite a bit of emphasis on the importance of a company keeping complete and accurate accounting records for many reasons. A companies well being may depend on its records accuracy, if there happen to be a problem spotted a simple solution would be to devolve back to the records, but what if the records are inaccurate, or incomplete? It is extremely important that Internal Controls keep close watch over the accuracy of the companies accounting records of all forms. The Sarbanes-Oxley Act of 2002 or SOX was created by the governments sector of Public Compan... ...d to companies loosing billions of dollars to those wrong practicing members of a company.As one can see internal controls in a company can make or bre ak a company. With all participation and strict principals internal controls can provide a great basis for a company and catch all errors to hold a smooth run for a company and avoidance of any scandals. With a undecided internal control system or wrong practices a company can get a bad wrap, loose customers and investors, loose profit and assets, as well as loose all reputability. There will always be problems within companies, but with the close running of a companys internal control and honest practices, government involvement, and outside audits and over views a company can frown their risk of loosing anything valuable to their company, and staying out of the publics eye in a negative manner.