What is the impact of senior leadership describing their methods for ensuring that their financial statements are accurate?
For this discussion, we will consider the responsibilities imposed on senior executives by the Sarbanes-Oxley Act. In addition to certifying the accuracy of the financial statements filed with the SEC, executives are responsible for assessing and articulating their internal control procedures for ensuring the accuracy of the documents filed with the Securities and Exchange Commission (SEC).
For your discussion, in one paragraph, convey your thoughts on the following:
- The significance of senior executives certifying that all documents filed with the SEC are accurate and thorough
- The impact of senior leadership describing their methods for ensuring that their financial statements are accurate
- The impact on the investment community if this act were eradication
There are numerous terms in the English language that we, as a society, use interchangeably. Assault/battery, tall/big and rich/successful just to name a few. The argument can be made that each of these terms are synonymous with their counterpart. But, technically speaking, they all hold quite different meanings. The idea behind morals and ethics is the same impasse.
In your initial discussion postings distinguish your personal differing definitions between morals and ethics. Consider answering some of the following as a part of your response: What is each? How is each determined? How does the law play into each definition? What about societal norms?