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英国essay代写:Corporate document management under the sarbanes act

2018-09-07 | 来源:51due教员组 | 类别:Essay代写范文

本篇essay代写- Corporate document management under the sarbanes act讨论了《萨班斯法案》的企业文件管理。《萨班斯法案》于美国企业管理陷入危机时出台,规范了企业文件管理等一系列活动。在《萨班斯法案》出台前,当时美国企业管理活动忽视原始凭证等文件资料、高层管理人员忽视文件责任的现象非常严重,这些文件管理漏洞直接给美国经济带来巨大的损失。而《萨班斯法案》就针对文件审计进行专门规定,指导企业为符合审计要求而进行文件管理。本篇essay代写51due代写平台整理,供大家从参考阅读。

sarbanes act,萨班斯法案,essay代写,代写,paper代写

The sarbanes act was introduced when American business management was in crisis and regulated a series of activities such as corporate document management. By analyzing the document management crisis before the enactment of sarbanes act and the characteristics of the bill in terms of document management and document quality, this paper summarizes the important enlightenment of the bill to the current corporate document management in China.

The revised measures for the administration of accounting archives are fully implemented to provide guidance for the administration of accounting archives by state organs, public organizations, enterprises, institutions and other organizations in China. In addition to the increasingly perfect domestic document management laws and regulations, some excellent foreign laws and regulations also have reference significance for Chinese enterprises' document management. Among them, sarbanes act comes at a time when American enterprises are facing crisis. It regulates the auditing and financial supervision, information disclosure, internal control and other activities of listed companies. Some regulations on corporate document management have the reference value of transcending time and crossing borders.

Sarbanes-oxley act, known as the public company accounting reform and investor protection act of 2002, was amended by the securities act of 1933 and the securities exchange act of 1934, which specified the internal control and external audit of the company and took effect in November 2004. Before the bill was introduced, American enterprise file management faced a great crisis, and the loophole of file management directly brought about huge economic losses. The bankruptcy of worldcom is a typical case. The worldcom case was one of the three major corporate scandals in the United States in the early 20th century. Worldcom filed for bankruptcy protection in 2002, the largest bankruptcy in U.S. history. Between 1999 and 2002, according to the SEC's investigation, worldcom executives engaged in financial fraud by misusing reserves, writing off line costs and flushing line costs, and exaggerating capital expenditures. From the point of view of document management, the materials used by worldcom to offset the line cost are all kinds of materials in the past year. Use the books to transfer capital when carrying out flush line costs. From these two behaviors, it can be seen that at that time, American enterprise management activities ignored documents such as original vouchers, and top management ignored document responsibility.

The subsequent sarbanes act, as a guide, specifically regulates document auditing and directs companies to document management in order to meet audit requirements. In the context of our government's macro-control, sarbanes act can be used as a useful reference for enterprises to improve the level of document management required by auditing.

The requirements of sarbanes act for the management of documents can be summarized in four aspects: process management of documents, archiving management of documents, duties of file managers, and discipline of violation management. In these four aspects, due to the different administrative systems in China and the United States, the process management of documents is also quite different. The filing management of documents has reference significance to the management of financial documents, especially the accounting records. The responsibility of document management personnel and the discipline of violation management are the most prominent in the document management requirements of the act.

Document delivery, archive management and encryption and decryption are the key points of bill document management. Bill concentrated embodied in strict process management of file specification file transfer direction, such as section 104 "of registered accountants to examine" rules for checking the draft report for review procedures, section 105 investigation and disciplinary procedures define the different situations of audit report submitted to the department: some reports may directly submit the SEC and the justice minister, when the service function in the organization management authorities to the management authorities shall submit the report when content involves to the state attorney general to submit the criminal investigation. The clear regulation of the direction of file transfer under different conditions, which departments should be responsible for the documents, is conducive to standardizing the file management process and improving the efficiency.

The bill's requirements for archiving management can be summarized as strict "in" and "out" standards, that is, which documents can be kept as archives and which classified documents can be disclosed to the public, including the scope of archiving, preservation period, confidentiality and other contents. First, section 802 provides audit securities issuers activities need to filing documents, including "working papers, as a foundation for audit and review of documents, memos, communication, communication and other related to the creation of the audit and review, send and receive and write a conclusion, opinions, analysis, financial data, documents and records". As you can see, the bill's description of the filing is very specific. It is particularly important to note that these unconventional documents, such as memos, communications and communications, are also included in the filing scope, similar to the more flexible "other accounting information" in the accounting records management method. In practice, the value of a document is more important than its form in determining whether an unconventional document needs to be filed. Second, section 103 regulates the retention period of audit reports and related documents "not less than 7 years"; Section 802 "criminal liability for falsification of documents" provides that the auditor shall retain all audit and related working papers for 5 years.

The sarbanes act provides for shorter periods of custody than the accounting records administration. The length of preservation period is related to the national conditions, and each has its own advantages and disadvantages. But shorter preservation periods, such as those set out in the bill, will undoubtedly increase the pressure on everything from document identification to destruction. Finally, the scope of documents covered by the act is governed by the freedom of information act. In addition to the normal document disclosure process, the disclosure of documents can be enforced according to the disciplinary procedures in the case of violation management. The American legal system is relatively perfect, and laws in cross-disciplinary areas can support each other. This document management idea is worth our reference: when managing enterprise documents, we should not only observe the laws and regulations directly related, but also refer to the provisions of the secrecy law and other relevant fields.

The sarbanes act mainly clarifies the document management responsibility of top management, and elevates the importance of document management to top management. In the long run, it is of great help to standardize and manage enterprise documents. It proposes that the company's chief officer and chief financial officer review and sign off on the responsibilities in the annual and quarterly reports. The signatory shall, while ensuring that the financial report "does not contain any material misstatement or omission", fairly reflect "the financial situation and the operating results within the reporting period". This regulation extends the responsibility of document management from ordinary business personnel to senior management personnel of the enterprise, and strengthens the consciousness of responsibility of senior management personnel to document management.

The sarbanes act repeatedly refers to the punishment of document violations. A person who intentionally changes, destroys, damages, conceals, conceals, forges or falsifies accounts in any record, document or tangible object for the purpose of preventing, obstructing or affecting an investigation or legitimate administrative act shall be fined, imprisoned for not more than 20 years or both. Strict laws and regulations reflect strict requirements on document management. Although it cannot completely eliminate the violation of laws and regulations, its warning role cannot be ignored.

In addition to document management, the sarbanes act also sets high requirements on document quality, namely, requirements on the authenticity, reliability and timeliness of documents. The authenticity and reliability of the document have similar but different meanings. The concept of document authenticity is interpreted in multiple ways. In sarbanes act, authenticity is reflected as the content of the document is consistent with the fact. If section 401 requires that no false statement or omission of material matters shall be made in the process of the generation and opening of financial documents, it shall "reflect the financial status and operating results of the company as accurately as possible" on the premise of abiding by generally accepted accounting principles. The reliability of a file focuses on describing the information contained in the file to be trusted. Section 501 addresses efforts to provide "more useful and reliable" information to investors by prohibiting the public release of research reports by investment bankers employed by brokers and dealers, and research reports by people not directly engaged in investment research. Both the authenticity and reliability of the file are required from the beginning of the file generation. The main purpose is not to facilitate enterprise management but to expose service information. When the contents of documents that the public has access to are authentic and reliable, the image of the enterprise will naturally be maintained and the influence of the enterprise will be enhanced.

The document's timeliness is often overlooked, but sarbanes takes it into account. For example, section 409 requires enterprises to open information to the public in a more "real-time" and "quick" way. The value of some documents in the economic field is closely related to their timeliness. Delayed disclosure of financial data, future planning, etc., could hurt investors' interests. Therefore, it is conducive to maintaining market order and reflecting the spirit of fairness to force enterprises to release documents in a timely manner in the form of laws and regulations.

Electronic documents appear repeatedly in the sarbanes-oxley act. As mentioned in section 306, "if written notice is reasonably acceptable in electronic form, electronic notices shall comply with the provisions of the act"; Section 403 provides that the registration forms for title conversion or for directors and officers to buy and sell swaps including the securities shall be submitted electronically. Section 406 requires the issuer of a security to promptly open up the change and abolition of the code of ethics through the Internet or other electronic means; Section 501 provides for both paper and electronic reports; Section 802 specifically includes electronic documents when specifying the type of financial documents to be retained.

The sarbanes-oxley act, which governs paper documents, is fairly limited by today's standards. However, through the management of different types of electronic documents under different conditions, it can be seen that the act takes electronic documents seriously. Given that the act was introduced in 2002, the use and management of electronic documents was not widespread. The sarbanes act's ability to bring some electronic documents into administration has been invaluable. Compared with the domestic and foreign document management regulations of the same era, the status of electronic documents in sarbanes act has been greatly enhanced, reflecting the forward-looking, practical and rigorous nature of the act.

The most obvious deficiency of sarbanes act is that it has relatively large room for interpretation in the provisions related to document management and lacks clear guidance. For example, the concepts such as "major internal defects", "fast", "timely" and even "financial documents" mentioned in the bill are not clearly defined. Nevertheless, the sarbanes act has an anachronistic guiding role, and many of its provisions are still relevant today.

Generally speaking, it is necessary to realize the front-end control to give full play to the advantages of document integration. In China, document management is in two different links of the traditional business process, which is usually the responsibility of business personnel and file management personnel respectively. In order to realize front-end control, good integration of different departments and personnel is imperative. First, the archives department issued policies to guide file managers to intervene in file management. Secondly, a front-end management mode based on the actual situation, with whole-process management as the concept and file value as the focus is established. Thirdly, in order to make file managers understand the concept of files and make them familiar with the operation of files, the comprehensive quality of file managers and file managers can be improved through training.

Finally, an investigation mechanism was established to check whether the front-end management of the archives department ensured the accuracy of data, realized the timeliness of documents and balanced the economic requirements of management. In detail, the sarbanes act makes claims about the authenticity, integrity, reliability, and availability of the document itself, but how to ensure the document's long-term credibility is a question that needs to be explored constantly. Taking authenticity as an example, the recognition of "authenticity" in business operation department and archives management department is obviously divided. When the business department generates the document, the authenticity of the content is more important, while the authenticity of the file form is more important in the file department. In fact, "authenticity" should be the combination of content authenticity and form authenticity, and front-end control is a good way to realize the combination of both. The archives department provides guidance, and the business department records the elements of documents from a professional perspective. In the process from the generation to the archiving of documents, there will be no too many changes in the various elements of form, so as to achieve the unity of the content and form of documents on the authenticity.

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