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1. ACC 230 Week 1 DQ 1 and DQ 2
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230/ACC-230-Week-1-DQ-1-and-DQ-2
Go to the U.S. Securities and Exchange Commission’s Web site at http://www.sec.gov
and the Financial Accounting Standards Board’sWeb site at http://www.fasb.org.
Identify the mission and main activities of each organization. Then, analyze the
similarities and differences between the roles of each entity. Which entity has more
influence over financial statement reporting? Explain your answer.
Search the Internet or the Online Library for information about the Sarbanes-Oxley
Act. A useful guide to some of these provisions is located at http://www.soxlaw.com.
Summarize at least two provisions of the law, and discuss your interpretation of these
provisions with your classmates. Do you think this law will make financial statements
more reliable? Also, discuss how Sarbanes-Oxley establishes boundaries to ensure
ethical practices. What does the law allow or prohibit, and why?
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