Teaching case
The SOX compliance journey at Trinity
Industries
Ulrike Schultze
ITOM, Cox School of Business, Southern Methodist University, Dallas, Texas, USA
Correspondence:
U Schultze, ITOM, Cox School of Business, Southern Methodist University, Dallas, Texas, USA.
Tel: 214-768-4265;
Fax: 214-768-4099;
E-mails: [email protected]; [email protected]
Abstract
Process and information technology changes in organizations are not always voluntary
and motivated by strategic goals. Instead, they may be imposed on organizations by
regulatory bodies and certifying agencies. This teaching case focuses on one company’s
multi-year journey of making process and information technology changes so as to comply
with a new set of regulations known as the Sarbanes-Oxley Act (SOX). Even though SOX
compliance work focuses on designing, implementing, and testing internal controls, these
controls are nothing but activities designed to ensure that processes implicated in the
production of financial information are completed correctly and that the financial
representations they generate are reliable. Thus, despite its emphasis on internal controls,
accounting and auditing, this teaching case provides students with insights into
compliance-related process improvement and system integration in general.
Journal of Information Technology Teaching Cases (2011) 1, 91–113. doi:10.1057/jittc.2011.11;
published online 4 October 2011
Keywords: compliance-related process improvement; internal controls; Sarbanes-Oxley Act; systems
integration
I
n his office overlooking the Trinity River flats in Dallas,
TX, Don Collum, VP and Chief Audit Executive at Trinity
Industries, was about to chair his weekly meeting with
KPMG partner, Jarrod Bassman, who had been overseeing
the KPMG engagement for Sarbanes-Oxley Act (SOX)
compliance at Trinity since 2003. It was mid-January
2008, and the external audit report regarding Trinity’s SOX
compliance for the year ending December 2007 was on the
meeting agenda. Once again they could pat themselves on
the back: for the fourth year in a row, Trinity passed its
SOX audit without material weaknesses.1
Reflecting on Trinity’s SOX compliance journey, Don
identified numerous accomplishments. In October 2003,
when he first began consulting with Trinity Industries on
their SOX initiative, he described the company as a
‘candidate of a company that could have had a material
weakness as defined by SOX’ even though it was a highly
successful, well-run and disciplined organization that
consistently delivered shareholder value through growth
and had never had cause to restate its earnings. But when it
came to SOX compliance, Trinity faced the same challenges
that most companies did, namely a general lack of process
and control documentation and evidence that controls had
been performed. In addition, Trinity’s operations were
highly diversified and decentralized, and their information
systems were fragmented. Trinity had forgone the im-
plementation of .
Sarbanes-Oxley Compliance and the RFI/RFP ProcessCXT Group
Sarbanes-Oxley compliance and the RFI/RFP development process set an international standard in the industry. This article clearly states the happenings.
Read More...
http://goo.gl/7cfs5T
LDR 6140 Second Case Study Analysis--United TechnologiesArdavan Shahroodi
United Technologies is a highly diversified conglomerate with divisions in aerospace, building systems, and other industries. It has pursued an unrelated diversification strategy through acquisitions to reduce risk and dependence on any single market. The company implements an operating system called ACE to standardize processes and continuously improve efficiency, quality, and innovation across divisions. United Technologies has experienced significant growth and increased profitability through this strategy and operating system. The analysis recommends UTC continue refining ACE to strengthen its competitive position going forward.
There are regulatory rules that must be met as well as organizatio.docxrandymartin91030
There are regulatory rules that must be met as well as organizational policy directives from management to be implemented. Additionally, there are also directives from outsiders (such as hackers) or from insiders (such as those with particular departmental or personal priorities that conflict with management’s objectives) that must be avoided.
As a result, compliance can be considered to fall into three general categories:
1. Regulatory: Mandated actions from outside governmental/regulatory agencies
2. Procedural/Policy: Mandated actions from (inside) management
3. Security: Prevention of the actions of outsiders and insiders attempting to enhance personal interests that are in conflict with owners’ (stockholders’ or the public’s) best interests
In some cases, categories 2 and 3 may overlap, such as when the actions of management are not in the best interests of the organization. An example of this would be a CEO who treats the company’s funds as her own personal piggy bank or a government official who uses public funds for personal gain. For example, consider the actions of former CEO Dennis Kozlowski at Tyco, who threw lavish parties (costing over $200 million) with company funds, and the actions of former Maryland governor Spiro Agnew, who took kickbacks on government contracts.
REGULATORY COMPLIANCE
The IT department—since it is primarily a service department—has very few direct governmental rules that apply to its own operations. However, IT management does have to concern itself with any area that relies on data integrity or information process quality.
Five areas that fall into this category are:
1. The finance department, which is concerned with taxes, internal control over financial statements, and proper recording of costs and revenue recognition
2. The human resources department, which must protect confidential personal information, such as Social Security numbers and health information, and which must safeguard fingerprint or security clearance data
3. The engineering department, which must protect new patents or innovative technology
4. The manufacturing department, which must protect secrets regarding proprietary processes for manufacturing and/or establishing high-level quality products that exceed competitors’ capabilities
5. The legal department, which may be involved in high-stakes negotiations or lawsuits
In most cases, IT regulatory compliance involves solely data protection. However, it may, in rare cases, involve establishing the processes that ensure such data protection is afforded to the appropriate other departments. One example of this is the recent IT audit requirements that exist as part of the Sarbanes-Oxley Act of 2002.
Sarbanes-Oxley Act of 2002
The Sarbanes-Oxley Act of 2002 (also known as SOX) was implemented by Congress in response to the fraudulent financial reporting at both Enron and WorldCom at the end of the dot-com boom period of 1999 to 2001. The collapse of these two firms led to a law requiring tha.
Legal Education in the Blockchain Revolution de Mark Fenwick,* Wulf A. Kaal**...eraser Juan José Calderón
ABSTRACT
The legal profession is one of the most disrupted sectors of the consulting industry today. The rise of Legal Technology, artificial intelligence, big data, machine learning, and, most importantly, blockchain technology is changing the practice of law. The sharing economy and platform companies challenge many of the traditional assumptions, doctrines, and concepts of law and governance—requiring litigators, judges, and regulators to adapt. Lawyers need to be equipped with the necessary skillsets to operate effectively in the new world of disruptive innovation in law. A more creative and innovative approach to educating lawyers for the twenty-first century is needed.
The document summarizes the priorities that guide the strategic focus of ITAC (Information Technology Association of Canada). The six priorities are:
1. Competitiveness - Improving the global competitiveness of Canada's ICT industry and economy.
2. ICT Adoption - Accelerating adoption of ICT tools across all economic sectors.
3. Public Sector Procurement - Ensuring a fair public sector procurement process.
4. eHealth - Improving Canada's healthcare system through increased use of eHealth solutions.
5. Smart Regulation - Ensuring a sound regulatory environment for growth of knowledge-based businesses.
6. Talent - Improving the supply of highly
This document discusses how to comply with the Sarbanes-Oxley Act (SOX) using Business Objects and the 360Suite software. It outlines a 9-step process for organizations to identify, secure, and maintain control over financial data protected by SOX. The steps include backing up data incrementally, managing security rights, tagging protected information, analyzing usage logs, implementing version control, and finding/fixing discrepancies. The goal is to improve transparency and safeguard financial data as required by SOX.
A Practical GuidetoFederal Enterprise ArchitectureCh.docxevonnehoggarth79783
A Practical Guide
to
Federal Enterprise Architecture
Chief Information Officer Council
Version 1.0
February 2001
iii
February 2001
Preface
An enterprise architecture (EA) establishes the Agency-wide roadmap to achieve an Agency�s mission
through optimal performance of its core business processes within an efficient information technology
(IT) environment. Simply stated, enterprise architectures are �blueprints� for systematically and
completely defining an organization�s current (baseline) or desired (target) environment. Enterprise
architectures are essential for evolving information systems and developing new systems that optimize
their mission value. This is accomplished in logical or business terms (e.g., mission, business functions,
information flows, and systems environments) and technical terms (e.g., software, hardware,
communications), and includes a Sequencing Plan for transitioning from the baseline environment to the
target environment.
If defined, maintained, and implemented effectively, these institutional blueprints assist in optimizing the
interdependencies and interrelationships among an organization�s business operations and the underlying
IT that support operations. The experience of the Office of Management and Budget (OMB) and General
Accounting Office (GAO) has shown that without a complete and enforced EA, federal agencies run the
risk of buying and building systems that are duplicative, incompatible, and unnecessarily costly to
maintain and integrate.
For EAs to be useful and provide business value, their development, maintenance, and implementation
should be managed effectively. This step-by-step process guide is intended to assist agencies in defining,
maintaining, and implementing EAs by providing a disciplined and rigorous approach to EA life cycle
management. It describes major EA program management areas, beginning with suggested
organizational structure and management controls, a process for development of a baseline and target
architecture, and development of a sequencing plan. The guide also describes EA maintenance and
implementation, as well as oversight and control. Collectively, these areas provide a recommended
model for effective EA management.
Background
Reflecting the general consensus in industry that large, complex systems development and acquisition
efforts should be guided by explicit EAs, Congress required Federal Agency Chief Information Officers
to develop, maintain, and facilitate integrated systems architectures with the passage of the Clinger-Cohen
Act1in 1996. Additionally, OMB has issued guidance that requires agency information systems
investments to be consistent with Federal, Agency, and bureau architectures. Other OMB guidance
provides for the content of Agency enterprise architectures.2 Similarly, the Chief Information Officer
Council, the Department of the Treasury, the National Institute of Standards Technology (NIST), and
GAO, have developed architecture fram.
Sarbanes-Oxley Compliance and the RFI/RFP ProcessCXT Group
Sarbanes-Oxley compliance and the RFI/RFP development process set an international standard in the industry. This article clearly states the happenings.
Read More...
http://goo.gl/7cfs5T
LDR 6140 Second Case Study Analysis--United TechnologiesArdavan Shahroodi
United Technologies is a highly diversified conglomerate with divisions in aerospace, building systems, and other industries. It has pursued an unrelated diversification strategy through acquisitions to reduce risk and dependence on any single market. The company implements an operating system called ACE to standardize processes and continuously improve efficiency, quality, and innovation across divisions. United Technologies has experienced significant growth and increased profitability through this strategy and operating system. The analysis recommends UTC continue refining ACE to strengthen its competitive position going forward.
There are regulatory rules that must be met as well as organizatio.docxrandymartin91030
There are regulatory rules that must be met as well as organizational policy directives from management to be implemented. Additionally, there are also directives from outsiders (such as hackers) or from insiders (such as those with particular departmental or personal priorities that conflict with management’s objectives) that must be avoided.
As a result, compliance can be considered to fall into three general categories:
1. Regulatory: Mandated actions from outside governmental/regulatory agencies
2. Procedural/Policy: Mandated actions from (inside) management
3. Security: Prevention of the actions of outsiders and insiders attempting to enhance personal interests that are in conflict with owners’ (stockholders’ or the public’s) best interests
In some cases, categories 2 and 3 may overlap, such as when the actions of management are not in the best interests of the organization. An example of this would be a CEO who treats the company’s funds as her own personal piggy bank or a government official who uses public funds for personal gain. For example, consider the actions of former CEO Dennis Kozlowski at Tyco, who threw lavish parties (costing over $200 million) with company funds, and the actions of former Maryland governor Spiro Agnew, who took kickbacks on government contracts.
REGULATORY COMPLIANCE
The IT department—since it is primarily a service department—has very few direct governmental rules that apply to its own operations. However, IT management does have to concern itself with any area that relies on data integrity or information process quality.
Five areas that fall into this category are:
1. The finance department, which is concerned with taxes, internal control over financial statements, and proper recording of costs and revenue recognition
2. The human resources department, which must protect confidential personal information, such as Social Security numbers and health information, and which must safeguard fingerprint or security clearance data
3. The engineering department, which must protect new patents or innovative technology
4. The manufacturing department, which must protect secrets regarding proprietary processes for manufacturing and/or establishing high-level quality products that exceed competitors’ capabilities
5. The legal department, which may be involved in high-stakes negotiations or lawsuits
In most cases, IT regulatory compliance involves solely data protection. However, it may, in rare cases, involve establishing the processes that ensure such data protection is afforded to the appropriate other departments. One example of this is the recent IT audit requirements that exist as part of the Sarbanes-Oxley Act of 2002.
Sarbanes-Oxley Act of 2002
The Sarbanes-Oxley Act of 2002 (also known as SOX) was implemented by Congress in response to the fraudulent financial reporting at both Enron and WorldCom at the end of the dot-com boom period of 1999 to 2001. The collapse of these two firms led to a law requiring tha.
Legal Education in the Blockchain Revolution de Mark Fenwick,* Wulf A. Kaal**...eraser Juan José Calderón
ABSTRACT
The legal profession is one of the most disrupted sectors of the consulting industry today. The rise of Legal Technology, artificial intelligence, big data, machine learning, and, most importantly, blockchain technology is changing the practice of law. The sharing economy and platform companies challenge many of the traditional assumptions, doctrines, and concepts of law and governance—requiring litigators, judges, and regulators to adapt. Lawyers need to be equipped with the necessary skillsets to operate effectively in the new world of disruptive innovation in law. A more creative and innovative approach to educating lawyers for the twenty-first century is needed.
The document summarizes the priorities that guide the strategic focus of ITAC (Information Technology Association of Canada). The six priorities are:
1. Competitiveness - Improving the global competitiveness of Canada's ICT industry and economy.
2. ICT Adoption - Accelerating adoption of ICT tools across all economic sectors.
3. Public Sector Procurement - Ensuring a fair public sector procurement process.
4. eHealth - Improving Canada's healthcare system through increased use of eHealth solutions.
5. Smart Regulation - Ensuring a sound regulatory environment for growth of knowledge-based businesses.
6. Talent - Improving the supply of highly
This document discusses how to comply with the Sarbanes-Oxley Act (SOX) using Business Objects and the 360Suite software. It outlines a 9-step process for organizations to identify, secure, and maintain control over financial data protected by SOX. The steps include backing up data incrementally, managing security rights, tagging protected information, analyzing usage logs, implementing version control, and finding/fixing discrepancies. The goal is to improve transparency and safeguard financial data as required by SOX.
A Practical GuidetoFederal Enterprise ArchitectureCh.docxevonnehoggarth79783
A Practical Guide
to
Federal Enterprise Architecture
Chief Information Officer Council
Version 1.0
February 2001
iii
February 2001
Preface
An enterprise architecture (EA) establishes the Agency-wide roadmap to achieve an Agency�s mission
through optimal performance of its core business processes within an efficient information technology
(IT) environment. Simply stated, enterprise architectures are �blueprints� for systematically and
completely defining an organization�s current (baseline) or desired (target) environment. Enterprise
architectures are essential for evolving information systems and developing new systems that optimize
their mission value. This is accomplished in logical or business terms (e.g., mission, business functions,
information flows, and systems environments) and technical terms (e.g., software, hardware,
communications), and includes a Sequencing Plan for transitioning from the baseline environment to the
target environment.
If defined, maintained, and implemented effectively, these institutional blueprints assist in optimizing the
interdependencies and interrelationships among an organization�s business operations and the underlying
IT that support operations. The experience of the Office of Management and Budget (OMB) and General
Accounting Office (GAO) has shown that without a complete and enforced EA, federal agencies run the
risk of buying and building systems that are duplicative, incompatible, and unnecessarily costly to
maintain and integrate.
For EAs to be useful and provide business value, their development, maintenance, and implementation
should be managed effectively. This step-by-step process guide is intended to assist agencies in defining,
maintaining, and implementing EAs by providing a disciplined and rigorous approach to EA life cycle
management. It describes major EA program management areas, beginning with suggested
organizational structure and management controls, a process for development of a baseline and target
architecture, and development of a sequencing plan. The guide also describes EA maintenance and
implementation, as well as oversight and control. Collectively, these areas provide a recommended
model for effective EA management.
Background
Reflecting the general consensus in industry that large, complex systems development and acquisition
efforts should be guided by explicit EAs, Congress required Federal Agency Chief Information Officers
to develop, maintain, and facilitate integrated systems architectures with the passage of the Clinger-Cohen
Act1in 1996. Additionally, OMB has issued guidance that requires agency information systems
investments to be consistent with Federal, Agency, and bureau architectures. Other OMB guidance
provides for the content of Agency enterprise architectures.2 Similarly, the Chief Information Officer
Council, the Department of the Treasury, the National Institute of Standards Technology (NIST), and
GAO, have developed architecture fram.
Annual Report Project
/
/
2
Outline
I. Company Overview
A. Business Segments
B. Market Conditions
C. Methods of Revenue Recognition
II. Ratio Analysis
A. Profitability
B. Liquidity
C. Stability
D. Shareholder Value
III. Summary
3
United Technologies is a global corporation comprised of five principle business
segments, Otis, Carrier, Pratt & Whitney, Flight Systems (Hamilton Sundstrand and
Sikorsky) and UTC Fuel Cells. Ranked in order of revenue generation, Carrier is the
world’s largest manufacturer of commercial and residential heating, ventilating and air
conditioning systems and equipment (HVAC). Complementing this segment of the
business Carrier is also a major manufacturer of commercial and transport refrigeration
equipment. Pratt & Whitney represents the aerospace industry, manufacturing
commercial and military aircraft engines and is also a leading supplier in the spare parts
market. Otis is the world’s largest elevator and escalator manufacturing, installation and
service company. In order to sustain growth and meet future technological demands Otis
has expanded into the market of automated people movers and developed the
revolutionary new Gen2™ elevator system. The Flight Systems business is comprised of
two segments, Sikorsky and Hamilton Sundstrand. Sikorsky is one of the world's largest
manufacturers of military and commercial helicopters and the primary supplier of
transport helicopters to the U.S. Army and Navy. Hamilton Sundstrand provides
aerospace and industrial products and aftermarket services and is the prime contractor for
NASA's space suit/life support system and produces environmental control, life support,
mechanical systems and thermal control systems for international space programs. And
finally, UTC Fuel Cells builds fuel cell systems for commercial, transportation,
residential, defense and space applications (including the U.S. space shuttle program).
These five unique and complex businesses comprise the diverse portfolio of United
Technologies.
4
As a global corporation UTC is impacted by political, economic, environmental and
climatic conditions throughout the world. Doing business in over 200 countries, speaking
98 languages and funding in 163 currencies adds an additional layer of complexity to this
organization. Since UTC has business operations throughout the world, changes in local
government regulations and policies, including those related to investments, export
policies and repatriation of earnings can have a huge impact on the financial health of the
organization. Further constraints involving foreign customers in the Corporation’s
aerospace and defense businesses and environmental regulations by federal, state and
local authorities in the United States and regulatory authorities with jurisdiction over its
foreign operations bring their share of financial.
1) McDonald's launched a "My First" campaign to combat the negative "McJob" stereotype and portray their jobs as a way for employees to gain valuable career skills and experience. The campaign features successful individuals who started their careers at McDonald's.
2) Additional efforts include distributing media highlighting McDonald's CEO and other top leaders started as front-line employees, and initiatives to improve employee pride, loyalty, and recruitment through word-of-mouth.
3) While these efforts aim to improve McDonald's image as an employer and make their jobs more appealing, some executives acknowledge the positions are generally intended as complementary or student jobs rather than lifestyle careers.
This document summarizes the results of a survey of standards and best practices used to ensure successful information resource projects. The survey examined practices in the public sector, including federal and state governments, and private sector organizations. Commonly used standards identified include the Capability Maturity Model, Project Management Body of Knowledge, software engineering standards, and ISO 9000 quality standards. State usage of these standards varies, with some states explicitly using standards more than others. Critical success factors for information resource projects identified in research include clear goals and support, detailed planning, stakeholder involvement, adequate resources and expertise, and monitoring progress. The survey findings can help organizations better apply standards and practices to deliver projects on time and on budget.
The Sarbanes-Oxley Act of 2002 was implemented to restore investor confidence in the wake of major corporate accounting scandals. It aims to improve corporate governance and financial disclosure. The act establishes new or enhanced standards for all U.S. public company boards, management, and public accounting firms. It requires companies and their executives to be more responsible and transparent in their financial reporting.
Clearing A Path Through The Regulatory MazeIan Philips
This document discusses the rise of RegTech solutions to help financial institutions manage increasingly complex regulatory requirements more efficiently. Following the 2008 financial crisis, regulators imposed significant new rules and compliance costs on the industry. RegTech applies new technologies like data analytics and automation to facilitate regulatory reporting and monitoring of business processes. The UK Financial Conduct Authority has been supportive of RegTech and sees its potential to reduce costs for both firms and regulators. RegTech solutions work by mapping key business flows, identifying important compliance checkpoints, and providing real-time dashboards and audit trails to demonstrate meeting regulatory obligations. Alpha Insight provides one such RegTech approach that has been applied across different areas of financial services like payments and trading.
Bradley Trychta has over 20 years of experience leading large-scale finance transformation projects. He was the Director of Finance for Waste Management's BEST program, which established a PMO and project team to implement a multi-year, enterprise-wide transformation involving PeopleSoft finance modules across 1,200 business units. He then joined Exelon as Director of Finance Systems and helped build a 5-year financial blueprint, leading projects to improve month-end closes, implement management reporting, and prepare Exelon for mergers and acquisitions.
Influence of corporate governance on the performance of public organizations ...Alexander Decker
This document summarizes a research study that examined the influence of corporate governance on the performance of public organizations, using Kenya Ports Authority (KPA) as a case study. The study found that of the four variables studied - board composition, management compensation, governance structure, and board size - board composition had the greatest influence on performance. Specifically, the representation of outsiders and professionals on the board was found to support KPA's performance, while political influence and the number of government officials on the board was viewed as less supportive of performance. The document provides background on corporate governance and reviews relevant literature before describing the research methodology and findings.
The Black Death pandemic of 1347-1352 contributed to the Renaissance in several ways:
(1) It drastically reduced the population of Europe, resulting in a labor shortage. This empowered laborers as they could demand higher wages.
(2) The labor shortage and higher wages allowed more people to have leisure time for artistic and intellectual pursuits.
(3) It weakened the feudal system and authority of the Catholic Church, as people questioned established institutions.
(4) The loss of many scholars led to a renewed interest in classical works as people looked to the past to understand the pandemic. This fueled humanism.
The document is a newsletter from Nolan, an operations and technology consulting firm specializing in insurance, healthcare, and banking. It discusses upcoming regulatory changes that will impact those industries and drive structural changes requiring capital investments and increased costs. It highlights opportunities for organizations to optimize processes and reduce inefficiencies when implementing new compliance requirements.
The SEC is finalizing a rule requiring companies to disclose their use of conflict minerals originating from the Democratic Republic of Congo and neighboring countries. Thousands of companies that manufacture products containing tin, tantalum, tungsten or gold will need to undertake supply chain due diligence to determine the source of these minerals and file public reports. The rule aims to increase transparency around conflict minerals and drive markets toward verifiable conflict-free supply chains. Affected companies should begin compliance work during 2012 to meet new disclosure requirements starting in early 2013. Resources Global Professionals can assist companies with compliance through their experience in global sourcing, auditing and technology issues.
How SOX changed the accounting industry when it was implemented. The background data that lead to the SOX overhaul and has it accomplished what it was drafted to do?
Topic: SOX; Type of paper: Essay; Subject: Accounting and Finance;
Academic Level: Undergraduate; Citation Style: Chicago; Language: English (U.S)
The document discusses the growing pressure on companies to improve their close-to-disclose financial reporting process. It notes that CFOs are targeting this process for improvement to reduce errors, speed reporting, increase transparency, and handle new disclosure requirements. The document provides statistics showing that companies with faster quarterly and annual close cycles spend less per $1,000 in revenue on financial reporting. It also discusses challenges companies face in gathering data from multiple systems and entities. Areas that companies are working to improve include reducing close cycle times, increasing automation, identifying error root causes, and better aligning internal and external reporting data. A holistic approach is needed that addresses people, processes, and systems.
7921IBA Major Essay Assessment ItemQuestion 1 The Australian .docxevonnehoggarth79783
7921IBA: Major Essay Assessment Item
Question 1
The Australian car industry operates within a relatively small domestic market and faces increased competition from imports. It is perceived value as a ‘strategic industry’, along with political considerations, has seen successive Australian governments providing financial and other assistance to this industry sector. In 2008, for example, the Productivity Commission calculated that total assistance — including financial assistance and remaining tariffs — equaled $23,500 for each automotive industry worker per year. While tariffs have since been further reduced, the government has continued to provide new funding for the sector, including a recently curtailed ‘Green Car’ program. While many economists have raised concerns over the efficiency of car industry subsidies, the leader of the federal opposition, Tony Abbott, recently stated that car making was essential to Australia’s status as a ‘'first world economy’. In early 2012 the federal Manufacturing Minister, Kim Carr, also visited the headquarters of General Motors and Ford in Detroit, USA, to try and gain commitments from these firms that they would continue to manufacture motor vehicles in Australia.
The Australian Department of Industry, Innovation, Science, Research and Tertiary Education has asked your firm to provide an independent report that critically analyses the above situation and provide conclusions and recommendations regarding the future of the Australian car industry. Critical questions that your report needs to address include:
· Should the Australian government continue to use tax payer money to support a local car industry? (Why? Why not?) and
· Do you think the retention of a car manufacturing sector is essential to Australia’s status as a ‘first world economy’? (Why? Why not?)
Please remember that your conclusions must be supported by your research and analysis. Critical underlying issues for your report/analysis include international trade theories the political economy of international trade and foreign direct investment).
Question 2
Cloud computing represents a potential paradigm shift in how organizations access and use information, communication and technology (ICT) services. Put simply, Cloud providers offer firms the ability to source ICT infrastructure and services from external providers via the internet; many such providers are located offshore. Cloud services include: infrastructure as a service (IaaS) – includes shifting an organization’s data into externally based data bases; Platform as a service (PaaS) – provides organizations with underlying hardware, operating systems, storage and network capacity via the internet; Software as a service (SaaS) – includes internet based email systems; and Business processes as a service (BPaS) – outsourcing of former in-house services such as payroll or accounting services to internet based providers.
OZ University is a large public Australian university that has tr.
Kady Seguin - PWYP-Canada Capacity Building ProjectFinding Publicly Availabl...Publish What You Pay
The document summarizes the PWYP-Canada Capacity Building Project, which aims to create portfolios on public mining companies operating in Africa and a manual for finding disclosed company information. It will include payment summaries, contracts, environmental data, and reserves from SEDAR filings. Feedback is sought on how the outcomes can support advocacy and research, and ways to incorporate the information into civil society work.
ArcSight ranked 236th on Deloitte's 2009 Technology Fast 500 list of the fastest growing technology companies in North America. The list ranks companies based on revenue growth percentage over a five-year period. ArcSight's revenue grew from $15.3 million in 2004 to $101.5 million in 2008. ArcSight CEO Tom Reilly attributes the company's growth to increased demand for cybersecurity and compliance solutions to help businesses and government agencies reduce risk and increase visibility across their IT infrastructure.
This document discusses corporate governance in the Gulf Cooperation Council (GCC) countries. It finds that corporate governance practices in the GCC are generally lagging global standards, with a lack of transparency that makes investment decisions difficult. However, there is growing awareness of the benefits of strong corporate governance, and regulators are working to improve standards through new codes and regulations. Pressures driving higher standards include globalization, economic reforms, and changes to banking regulations in line with Basel standards.
This document discusses international corporate governance, focusing on the UK's "comply or explain" system and comparing it to China's system. It notes that while the UK system provides flexibility, it has weaknesses like lack of compliance and unclear guidance on director duties. The "comply or explain" approach has received praise but questions remain about ensuring best practices are followed. China's system is also analyzed, looking at reforms and loopholes. Overall the document provides a critical analysis of both the UK and Chinese corporate governance systems.
205JOURNAL OF INFORMAITON SYSTEMSVol. 20, No. 1Spring .docxfelicidaddinwoodie
205
JOURNAL OF INFORMAITON SYSTEMS
Vol. 20, No. 1
Spring 2006
pp. 205–219
Research Opportunities in Information
Technology and Internal Auditing
Marcia L. Weidenmier
Mississippi State University
Sridhar Ramamoorti
Grant Thornton LLP
ABSTRACT: This paper presents research opportunities in the area of information tech-
nology (IT) within the context of the internal audit function. Given the pervasive use of
IT in organizations and the new requirements of the Sarbanes-Oxley Act of 2002, in-
ternal audit functions must use appropriate technology to increase their efficiency
and effectiveness. We develop IT and internal audit research questions for three
governance-related activities performed by the internal audit function-risk assessment,
control assurance, and compliance assessment of security and privacy.
Keywords: IT / IS auditing; internal auditing; information technology; research oppor-
tunities; Sarbanes-Oxley; corporate governance; risk management; secu-
rity; privacy.
Data Availability: Please direct all comments and suggestions to Dr. Marcia
Weidenmier.
I. INTRODUCTION
T
his paper develops information technology-related research questions within the con-
text of the internal audit function. The internal audit function (IAF) is one of the
cornerstones of corporate governance along with the external auditor, executive man-
agement, and the audit committee of the Board of Directors (Gramling et al. 2004). The
Board of Directors determines the overall governance process, which senior management
implements and internal and external auditors evaluate, under the watchful eye of the audit
committee (Blue Ribbon Committee 1999; Treadway Commission 1987).
The IAF occupies a unique and pivotal role in corporate governance. First, the IAF is
an information gathering and reporting resource for the three other governance parties
(Gramling et al. 2004). Second, the IAF is an integral part of the organization’s internal
control structure. In fact, Rule 303A of the New York Stock Exchange requires listed
companies to have an IAF. Third, the IAF executes important governance-related activities
including risk assessment, control assurance, and compliance assessment, which are critical
We thank JIS editor Dan Stone for suggesting and encouraging us to write the supplemental technology chapter
to the Research Opportunities in Internal Auditing (2003) monograph. We remain grateful to the IIA Research
Foundation for granting us permission to reproduce, paraphrase, and / or use copyrighted materials in preparing this
paper for the Journal of Information Systems. (Copyright 2004, The Pervasive Impact of Information Technology
on Internal Auditing, by the Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte
Springs, Florida 32701-4201 U.S.A. Reprinted with permission.) The views expressed in this paper are the personal
views of Dr. Sridhar Ramamoorti and do not reflect the views of, nor endorsement by, Grant Thornton LL ...
Assignment 1 Dealing with Diversity in America from Reconstructi.docxdeanmtaylor1545
Assignment 1: Dealing with Diversity in America from Reconstruction through the 1920s
For History 105: Dr. Stansbury’s classes (6 pages here)
Due Week 3 and worth 120 points. The formal deadline is Monday at 9am Eastern time, Jan. 21. But, due to the King holiday, no late penalty will be imposed if submitted by the end of Jan. 22.
[NOTE ON ECREE: The university is adopting a tool, called ecree for doing writing assignments in many classes. We will be using the ecree program for doing our papers in this class. More instructions on this tool will be posted. You are welcome to type your paper in MS-Word as traditionally done—and then to upload that file to ecree to revise and finish it up. Or, as we suggest, you may type your paper directly into ecree. When using ecree, you should use CHROME as your browser. As posted: “Please note that ecree works best in Firefox and Chrome. Please do not use Internet Explorer or mobile devices when using ecree.”]
BACKGROUND FOR THE PAPER: After the Civil War, the United States had to recover from war, handle western expansion, and grapple with very new economic forms. However, its greatest issues would revolve around the legacies of slavery and increasing diversity in the decades after the Civil War. In the South, former slaves now had freedom and new opportunities but, despite the Reconstruction period, faced old prejudices and rapidly forming new barriers. Immigrants from Europe and Asia came in large numbers but then faced political and social restrictions. Women continued to seek rights. Yet, on the whole, America became increasingly diverse by the 1920s. Consider developments, policies, and laws in that period from 1865 to the 1920s. Examine the statement below and drawing from provided sources, present a paper with specific examples and arguments to demonstrate the validity of your position.
Topic and Thesis Statement—in which you can take a pro or con position:
· Political policies and movements in the period from 1865 to the 1920s generally promoted diversity and “the melting pot” despite the strong prejudices of a few. (or you can take the position that they did not). Use specific examples of policies or movements from different decades to support your position.
After giving general consideration to your readings so far and any general research, select one of the positions above as your position—your thesis. (Sometimes after doing more thorough research, you might choose the reverse position. This happens with critical thinking and inquiry. Your final paper might end up taking a different position than you originally envisioned.) Organize your paper as follows with the four parts below (see TIPS sheet and TEMPLATE also), handling these issues:
1. The position you choose —or something close to it—will be the thesis statement in your opening paragraph. [usually this is one paragraph with thesis statement being the last sentence of the paragraph.]
2. To support your position, use thre.
Assignment 1 Why are the originalraw data not readily us.docxdeanmtaylor1545
Assignment 1
:
Why are the original/raw data not readily usable by analytics tasks? What are the main data preprocessing steps? List and explain their importance in analytics.
Refer to Chapter 3 in the attached textbook:
Sharda, R., Delen, D., Turban, E. (2020). Analytics, Data Science, & Artificial Intelligence: Systems for Decision Support 11E.
ISBN: 978-0-13-519201-6.
Discuss the process that generates the power of AI and discuss the differences between machine learning and deep learning.
Requirement:
****Separate document for each assignment.****
Minimum 300-350 words. Cover sheet, abstract, graphs, and references does not count.
Add references separately for each assignment question.
Double Spaced and APA 7th Edition Format
No plagiarized content please! Attach a plagiarized report.
Check for spelling and grammar mistakes!
$5 max. Please bid if you agree.
Assignment 2
:
What are the privacy issues with data mining? Do you think they are substantiated?
Refer to Chapter 4
in the attached textbook:
Sharda, R., Delen, D., Turban, E. (2020). Analytics, Data Science, & Artificial Intelligence: Systems for Decision Support 11E.
ISBN: 978-0-13-519201-6.
Requirement:
****Separate document for each assignment.****
Minimum 300-350 words. Cover sheet, abstract, graphs, and references does not count.
Add references separately for each assignment question.
Double Spaced and APA 7th Edition Format
No plagiarized content please! Attach a plagiarized report.
Check for spelling and grammar mistakes!
$5 max. Please bid if you agree.
.
More Related Content
Similar to Teaching caseThe SOX compliance journey at TrinityIndu.docx
Annual Report Project
/
/
2
Outline
I. Company Overview
A. Business Segments
B. Market Conditions
C. Methods of Revenue Recognition
II. Ratio Analysis
A. Profitability
B. Liquidity
C. Stability
D. Shareholder Value
III. Summary
3
United Technologies is a global corporation comprised of five principle business
segments, Otis, Carrier, Pratt & Whitney, Flight Systems (Hamilton Sundstrand and
Sikorsky) and UTC Fuel Cells. Ranked in order of revenue generation, Carrier is the
world’s largest manufacturer of commercial and residential heating, ventilating and air
conditioning systems and equipment (HVAC). Complementing this segment of the
business Carrier is also a major manufacturer of commercial and transport refrigeration
equipment. Pratt & Whitney represents the aerospace industry, manufacturing
commercial and military aircraft engines and is also a leading supplier in the spare parts
market. Otis is the world’s largest elevator and escalator manufacturing, installation and
service company. In order to sustain growth and meet future technological demands Otis
has expanded into the market of automated people movers and developed the
revolutionary new Gen2™ elevator system. The Flight Systems business is comprised of
two segments, Sikorsky and Hamilton Sundstrand. Sikorsky is one of the world's largest
manufacturers of military and commercial helicopters and the primary supplier of
transport helicopters to the U.S. Army and Navy. Hamilton Sundstrand provides
aerospace and industrial products and aftermarket services and is the prime contractor for
NASA's space suit/life support system and produces environmental control, life support,
mechanical systems and thermal control systems for international space programs. And
finally, UTC Fuel Cells builds fuel cell systems for commercial, transportation,
residential, defense and space applications (including the U.S. space shuttle program).
These five unique and complex businesses comprise the diverse portfolio of United
Technologies.
4
As a global corporation UTC is impacted by political, economic, environmental and
climatic conditions throughout the world. Doing business in over 200 countries, speaking
98 languages and funding in 163 currencies adds an additional layer of complexity to this
organization. Since UTC has business operations throughout the world, changes in local
government regulations and policies, including those related to investments, export
policies and repatriation of earnings can have a huge impact on the financial health of the
organization. Further constraints involving foreign customers in the Corporation’s
aerospace and defense businesses and environmental regulations by federal, state and
local authorities in the United States and regulatory authorities with jurisdiction over its
foreign operations bring their share of financial.
1) McDonald's launched a "My First" campaign to combat the negative "McJob" stereotype and portray their jobs as a way for employees to gain valuable career skills and experience. The campaign features successful individuals who started their careers at McDonald's.
2) Additional efforts include distributing media highlighting McDonald's CEO and other top leaders started as front-line employees, and initiatives to improve employee pride, loyalty, and recruitment through word-of-mouth.
3) While these efforts aim to improve McDonald's image as an employer and make their jobs more appealing, some executives acknowledge the positions are generally intended as complementary or student jobs rather than lifestyle careers.
This document summarizes the results of a survey of standards and best practices used to ensure successful information resource projects. The survey examined practices in the public sector, including federal and state governments, and private sector organizations. Commonly used standards identified include the Capability Maturity Model, Project Management Body of Knowledge, software engineering standards, and ISO 9000 quality standards. State usage of these standards varies, with some states explicitly using standards more than others. Critical success factors for information resource projects identified in research include clear goals and support, detailed planning, stakeholder involvement, adequate resources and expertise, and monitoring progress. The survey findings can help organizations better apply standards and practices to deliver projects on time and on budget.
The Sarbanes-Oxley Act of 2002 was implemented to restore investor confidence in the wake of major corporate accounting scandals. It aims to improve corporate governance and financial disclosure. The act establishes new or enhanced standards for all U.S. public company boards, management, and public accounting firms. It requires companies and their executives to be more responsible and transparent in their financial reporting.
Clearing A Path Through The Regulatory MazeIan Philips
This document discusses the rise of RegTech solutions to help financial institutions manage increasingly complex regulatory requirements more efficiently. Following the 2008 financial crisis, regulators imposed significant new rules and compliance costs on the industry. RegTech applies new technologies like data analytics and automation to facilitate regulatory reporting and monitoring of business processes. The UK Financial Conduct Authority has been supportive of RegTech and sees its potential to reduce costs for both firms and regulators. RegTech solutions work by mapping key business flows, identifying important compliance checkpoints, and providing real-time dashboards and audit trails to demonstrate meeting regulatory obligations. Alpha Insight provides one such RegTech approach that has been applied across different areas of financial services like payments and trading.
Bradley Trychta has over 20 years of experience leading large-scale finance transformation projects. He was the Director of Finance for Waste Management's BEST program, which established a PMO and project team to implement a multi-year, enterprise-wide transformation involving PeopleSoft finance modules across 1,200 business units. He then joined Exelon as Director of Finance Systems and helped build a 5-year financial blueprint, leading projects to improve month-end closes, implement management reporting, and prepare Exelon for mergers and acquisitions.
Influence of corporate governance on the performance of public organizations ...Alexander Decker
This document summarizes a research study that examined the influence of corporate governance on the performance of public organizations, using Kenya Ports Authority (KPA) as a case study. The study found that of the four variables studied - board composition, management compensation, governance structure, and board size - board composition had the greatest influence on performance. Specifically, the representation of outsiders and professionals on the board was found to support KPA's performance, while political influence and the number of government officials on the board was viewed as less supportive of performance. The document provides background on corporate governance and reviews relevant literature before describing the research methodology and findings.
The Black Death pandemic of 1347-1352 contributed to the Renaissance in several ways:
(1) It drastically reduced the population of Europe, resulting in a labor shortage. This empowered laborers as they could demand higher wages.
(2) The labor shortage and higher wages allowed more people to have leisure time for artistic and intellectual pursuits.
(3) It weakened the feudal system and authority of the Catholic Church, as people questioned established institutions.
(4) The loss of many scholars led to a renewed interest in classical works as people looked to the past to understand the pandemic. This fueled humanism.
The document is a newsletter from Nolan, an operations and technology consulting firm specializing in insurance, healthcare, and banking. It discusses upcoming regulatory changes that will impact those industries and drive structural changes requiring capital investments and increased costs. It highlights opportunities for organizations to optimize processes and reduce inefficiencies when implementing new compliance requirements.
The SEC is finalizing a rule requiring companies to disclose their use of conflict minerals originating from the Democratic Republic of Congo and neighboring countries. Thousands of companies that manufacture products containing tin, tantalum, tungsten or gold will need to undertake supply chain due diligence to determine the source of these minerals and file public reports. The rule aims to increase transparency around conflict minerals and drive markets toward verifiable conflict-free supply chains. Affected companies should begin compliance work during 2012 to meet new disclosure requirements starting in early 2013. Resources Global Professionals can assist companies with compliance through their experience in global sourcing, auditing and technology issues.
How SOX changed the accounting industry when it was implemented. The background data that lead to the SOX overhaul and has it accomplished what it was drafted to do?
Topic: SOX; Type of paper: Essay; Subject: Accounting and Finance;
Academic Level: Undergraduate; Citation Style: Chicago; Language: English (U.S)
The document discusses the growing pressure on companies to improve their close-to-disclose financial reporting process. It notes that CFOs are targeting this process for improvement to reduce errors, speed reporting, increase transparency, and handle new disclosure requirements. The document provides statistics showing that companies with faster quarterly and annual close cycles spend less per $1,000 in revenue on financial reporting. It also discusses challenges companies face in gathering data from multiple systems and entities. Areas that companies are working to improve include reducing close cycle times, increasing automation, identifying error root causes, and better aligning internal and external reporting data. A holistic approach is needed that addresses people, processes, and systems.
7921IBA Major Essay Assessment ItemQuestion 1 The Australian .docxevonnehoggarth79783
7921IBA: Major Essay Assessment Item
Question 1
The Australian car industry operates within a relatively small domestic market and faces increased competition from imports. It is perceived value as a ‘strategic industry’, along with political considerations, has seen successive Australian governments providing financial and other assistance to this industry sector. In 2008, for example, the Productivity Commission calculated that total assistance — including financial assistance and remaining tariffs — equaled $23,500 for each automotive industry worker per year. While tariffs have since been further reduced, the government has continued to provide new funding for the sector, including a recently curtailed ‘Green Car’ program. While many economists have raised concerns over the efficiency of car industry subsidies, the leader of the federal opposition, Tony Abbott, recently stated that car making was essential to Australia’s status as a ‘'first world economy’. In early 2012 the federal Manufacturing Minister, Kim Carr, also visited the headquarters of General Motors and Ford in Detroit, USA, to try and gain commitments from these firms that they would continue to manufacture motor vehicles in Australia.
The Australian Department of Industry, Innovation, Science, Research and Tertiary Education has asked your firm to provide an independent report that critically analyses the above situation and provide conclusions and recommendations regarding the future of the Australian car industry. Critical questions that your report needs to address include:
· Should the Australian government continue to use tax payer money to support a local car industry? (Why? Why not?) and
· Do you think the retention of a car manufacturing sector is essential to Australia’s status as a ‘first world economy’? (Why? Why not?)
Please remember that your conclusions must be supported by your research and analysis. Critical underlying issues for your report/analysis include international trade theories the political economy of international trade and foreign direct investment).
Question 2
Cloud computing represents a potential paradigm shift in how organizations access and use information, communication and technology (ICT) services. Put simply, Cloud providers offer firms the ability to source ICT infrastructure and services from external providers via the internet; many such providers are located offshore. Cloud services include: infrastructure as a service (IaaS) – includes shifting an organization’s data into externally based data bases; Platform as a service (PaaS) – provides organizations with underlying hardware, operating systems, storage and network capacity via the internet; Software as a service (SaaS) – includes internet based email systems; and Business processes as a service (BPaS) – outsourcing of former in-house services such as payroll or accounting services to internet based providers.
OZ University is a large public Australian university that has tr.
Kady Seguin - PWYP-Canada Capacity Building ProjectFinding Publicly Availabl...Publish What You Pay
The document summarizes the PWYP-Canada Capacity Building Project, which aims to create portfolios on public mining companies operating in Africa and a manual for finding disclosed company information. It will include payment summaries, contracts, environmental data, and reserves from SEDAR filings. Feedback is sought on how the outcomes can support advocacy and research, and ways to incorporate the information into civil society work.
ArcSight ranked 236th on Deloitte's 2009 Technology Fast 500 list of the fastest growing technology companies in North America. The list ranks companies based on revenue growth percentage over a five-year period. ArcSight's revenue grew from $15.3 million in 2004 to $101.5 million in 2008. ArcSight CEO Tom Reilly attributes the company's growth to increased demand for cybersecurity and compliance solutions to help businesses and government agencies reduce risk and increase visibility across their IT infrastructure.
This document discusses corporate governance in the Gulf Cooperation Council (GCC) countries. It finds that corporate governance practices in the GCC are generally lagging global standards, with a lack of transparency that makes investment decisions difficult. However, there is growing awareness of the benefits of strong corporate governance, and regulators are working to improve standards through new codes and regulations. Pressures driving higher standards include globalization, economic reforms, and changes to banking regulations in line with Basel standards.
This document discusses international corporate governance, focusing on the UK's "comply or explain" system and comparing it to China's system. It notes that while the UK system provides flexibility, it has weaknesses like lack of compliance and unclear guidance on director duties. The "comply or explain" approach has received praise but questions remain about ensuring best practices are followed. China's system is also analyzed, looking at reforms and loopholes. Overall the document provides a critical analysis of both the UK and Chinese corporate governance systems.
205JOURNAL OF INFORMAITON SYSTEMSVol. 20, No. 1Spring .docxfelicidaddinwoodie
205
JOURNAL OF INFORMAITON SYSTEMS
Vol. 20, No. 1
Spring 2006
pp. 205–219
Research Opportunities in Information
Technology and Internal Auditing
Marcia L. Weidenmier
Mississippi State University
Sridhar Ramamoorti
Grant Thornton LLP
ABSTRACT: This paper presents research opportunities in the area of information tech-
nology (IT) within the context of the internal audit function. Given the pervasive use of
IT in organizations and the new requirements of the Sarbanes-Oxley Act of 2002, in-
ternal audit functions must use appropriate technology to increase their efficiency
and effectiveness. We develop IT and internal audit research questions for three
governance-related activities performed by the internal audit function-risk assessment,
control assurance, and compliance assessment of security and privacy.
Keywords: IT / IS auditing; internal auditing; information technology; research oppor-
tunities; Sarbanes-Oxley; corporate governance; risk management; secu-
rity; privacy.
Data Availability: Please direct all comments and suggestions to Dr. Marcia
Weidenmier.
I. INTRODUCTION
T
his paper develops information technology-related research questions within the con-
text of the internal audit function. The internal audit function (IAF) is one of the
cornerstones of corporate governance along with the external auditor, executive man-
agement, and the audit committee of the Board of Directors (Gramling et al. 2004). The
Board of Directors determines the overall governance process, which senior management
implements and internal and external auditors evaluate, under the watchful eye of the audit
committee (Blue Ribbon Committee 1999; Treadway Commission 1987).
The IAF occupies a unique and pivotal role in corporate governance. First, the IAF is
an information gathering and reporting resource for the three other governance parties
(Gramling et al. 2004). Second, the IAF is an integral part of the organization’s internal
control structure. In fact, Rule 303A of the New York Stock Exchange requires listed
companies to have an IAF. Third, the IAF executes important governance-related activities
including risk assessment, control assurance, and compliance assessment, which are critical
We thank JIS editor Dan Stone for suggesting and encouraging us to write the supplemental technology chapter
to the Research Opportunities in Internal Auditing (2003) monograph. We remain grateful to the IIA Research
Foundation for granting us permission to reproduce, paraphrase, and / or use copyrighted materials in preparing this
paper for the Journal of Information Systems. (Copyright 2004, The Pervasive Impact of Information Technology
on Internal Auditing, by the Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte
Springs, Florida 32701-4201 U.S.A. Reprinted with permission.) The views expressed in this paper are the personal
views of Dr. Sridhar Ramamoorti and do not reflect the views of, nor endorsement by, Grant Thornton LL ...
Similar to Teaching caseThe SOX compliance journey at TrinityIndu.docx (20)
Assignment 1 Dealing with Diversity in America from Reconstructi.docxdeanmtaylor1545
Assignment 1: Dealing with Diversity in America from Reconstruction through the 1920s
For History 105: Dr. Stansbury’s classes (6 pages here)
Due Week 3 and worth 120 points. The formal deadline is Monday at 9am Eastern time, Jan. 21. But, due to the King holiday, no late penalty will be imposed if submitted by the end of Jan. 22.
[NOTE ON ECREE: The university is adopting a tool, called ecree for doing writing assignments in many classes. We will be using the ecree program for doing our papers in this class. More instructions on this tool will be posted. You are welcome to type your paper in MS-Word as traditionally done—and then to upload that file to ecree to revise and finish it up. Or, as we suggest, you may type your paper directly into ecree. When using ecree, you should use CHROME as your browser. As posted: “Please note that ecree works best in Firefox and Chrome. Please do not use Internet Explorer or mobile devices when using ecree.”]
BACKGROUND FOR THE PAPER: After the Civil War, the United States had to recover from war, handle western expansion, and grapple with very new economic forms. However, its greatest issues would revolve around the legacies of slavery and increasing diversity in the decades after the Civil War. In the South, former slaves now had freedom and new opportunities but, despite the Reconstruction period, faced old prejudices and rapidly forming new barriers. Immigrants from Europe and Asia came in large numbers but then faced political and social restrictions. Women continued to seek rights. Yet, on the whole, America became increasingly diverse by the 1920s. Consider developments, policies, and laws in that period from 1865 to the 1920s. Examine the statement below and drawing from provided sources, present a paper with specific examples and arguments to demonstrate the validity of your position.
Topic and Thesis Statement—in which you can take a pro or con position:
· Political policies and movements in the period from 1865 to the 1920s generally promoted diversity and “the melting pot” despite the strong prejudices of a few. (or you can take the position that they did not). Use specific examples of policies or movements from different decades to support your position.
After giving general consideration to your readings so far and any general research, select one of the positions above as your position—your thesis. (Sometimes after doing more thorough research, you might choose the reverse position. This happens with critical thinking and inquiry. Your final paper might end up taking a different position than you originally envisioned.) Organize your paper as follows with the four parts below (see TIPS sheet and TEMPLATE also), handling these issues:
1. The position you choose —or something close to it—will be the thesis statement in your opening paragraph. [usually this is one paragraph with thesis statement being the last sentence of the paragraph.]
2. To support your position, use thre.
Assignment 1 Why are the originalraw data not readily us.docxdeanmtaylor1545
Assignment 1
:
Why are the original/raw data not readily usable by analytics tasks? What are the main data preprocessing steps? List and explain their importance in analytics.
Refer to Chapter 3 in the attached textbook:
Sharda, R., Delen, D., Turban, E. (2020). Analytics, Data Science, & Artificial Intelligence: Systems for Decision Support 11E.
ISBN: 978-0-13-519201-6.
Discuss the process that generates the power of AI and discuss the differences between machine learning and deep learning.
Requirement:
****Separate document for each assignment.****
Minimum 300-350 words. Cover sheet, abstract, graphs, and references does not count.
Add references separately for each assignment question.
Double Spaced and APA 7th Edition Format
No plagiarized content please! Attach a plagiarized report.
Check for spelling and grammar mistakes!
$5 max. Please bid if you agree.
Assignment 2
:
What are the privacy issues with data mining? Do you think they are substantiated?
Refer to Chapter 4
in the attached textbook:
Sharda, R., Delen, D., Turban, E. (2020). Analytics, Data Science, & Artificial Intelligence: Systems for Decision Support 11E.
ISBN: 978-0-13-519201-6.
Requirement:
****Separate document for each assignment.****
Minimum 300-350 words. Cover sheet, abstract, graphs, and references does not count.
Add references separately for each assignment question.
Double Spaced and APA 7th Edition Format
No plagiarized content please! Attach a plagiarized report.
Check for spelling and grammar mistakes!
$5 max. Please bid if you agree.
.
Assignment 1 Refer to the attached document and complete the .docxdeanmtaylor1545
Assignment 1
:
Refer to the attached document and complete the following sections from the document (highlighted in yellow):
Policy 1.1
Policy Statement Section Overview
Policy 1.2
Policy Statements Contents
Requirement:
·
****Separate word document for each assignment****
· Minimum 300-350 words. Cover sheets, abstracts, graphs, and references do not count.
·
Add references separately for each assignment question.
·
Strictly follow APA style. Length – 2 to 3 paragraphs.
·
Sources: 2 References to Support your answer
· No plagiarized content please! Attach a plagiarized report.
· Check for spelling and grammar mistakes!
· $5 max. Please bid if you agree.
.
Assignment 1
:
Remote Access Method Evaluation
Learning Objectives and Outcomes
Ø
Explore and assess different remote access solutions.
Assignment Requirements
Discuss which of the two remote access solutions
, virtual private networks (VPNs) or hypertext transport protocol secure (HTTPS),
you will rate as the best.
You need to make a choice between the two remote access solutions based on the following features:
Ø Identification, authentication, and authorization
Ø Cost, scalability, reliability, and interoperability
Requirement:
·
****Separate word document for each assignment****
· Minimum 300-350 words. Cover sheet, abstract, graphs, and references do not count.
·
Add reference separately for each assignment question.
·
Strictly follow APA style. Length – 2 to 3 paragraphs.
·
Sources: 2 References to Support your answer
· No plagiarized content please! Attach a plagiarized report.
· Check for spelling and grammar mistakes!
· $5 max. Please bid if you agree.
Assignment 2
:
Discuss techniques for combining multiple anomaly detection techniques to improve the identification of anomalous objects. Consider both supervised and unsupervised cases.
Requirement:
·
****Separate word document for each assignment****
· Minimum 300-350 words. Cover sheet, abstract, graphs, and references do not count.
·
Add reference separately for each assignment question.
·
Strictly follow APA style. Length – 2 to 3 paragraphs.
·
Sources: 2 References to Support your answer
· No plagiarized content please! Attach a plagiarized report.
· Check for spelling and grammar mistakes!
· $5 max. Please bid if you agree.
Assignment 3
:
Refer to the attached “Term Paper for ITS632(1)” for assignment.
Requirements
:
·
****Separate word document for each assignment****
· Minimum 6 pages. Cover sheet, abstract, graphs, and references do not count.
·
Add reference separately for each assignment question.
·
Strictly follow APA style.
·
Sources: 3-5 References
· No plagiarized content please! Attach a plagiarized report.
· Check for spelling and grammar mistakes!
· $30 max. Please bid if you agree.
.
Assignment 1 Inmates Rights and Special CircumstancesCriteria.docxdeanmtaylor1545
Assignment 1: Inmates Rights and Special Circumstances
Criteria
Unacceptable
Below 60% F
Meets Minimum Expectations
60-69% D
Fair
70-79% C
Proficient
80-89% B
Exemplary
90-100% A
1. Analyze the legal mechanisms in which an inmate can challenge his or her confinement. Support or refute the cost of such challenges to the state and / or federal government. Provide a rationale for your response.
Weight: 30%
Did not submit or incompletely analyzed the legal mechanisms in which an inmate can challenge his or her confinement. Did not submit or incompletely supported or refuted the cost of such challenges to the state and / or federal government. Did not submit or incompletely provided a rationale for your response.
Insufficiently analyzed the legal mechanisms in which an inmate can challenge his or her confinement. Insufficiently supported or refuted the cost of such challenges to the state and / or federal government. Insufficiently provided a rationale for your response.
Partially analyzed the legal mechanisms in which an inmate can challenge his or her confinement. Partially supported or refuted the cost of such challenges to the state and / or federal government. Partially provided a rationale for your response.
Satisfactorily analyzed the legal mechanisms in which an inmate can challenge his or her confinement. Satisfactorily supported or refuted the cost of such challenges to the state and / or federal government. Satisfactorily provided a rationale for your response.
Thoroughly analyzed the legal mechanisms in which an inmate can challenge his or her confinement. Thoroughly supported or refuted the cost of such challenges to the state and / or federal government. Thoroughly provided a rationale for your response.
2. Examine the four (4) management issues that arise as a result of inmates with special needs. Prepare one (1) recommendation for each management issue that effectively neutralizes each concern. Provide a rationale for your response.
Weight: 30%
Did not submit or incompletely examined the four (4) management issues that arise as a result of inmates with special needs. Did not submit or incompletely prepared one (1) recommendation for each management issue that effectively neutralizes each concern. Did not submit or incompletely provided a rationale for your response.
Insufficiently examined the four (4) management issues that arise as a result of inmates with special needs. Insufficiently prepared one (1) recommendation for each management issue that effectively neutralizes each concern. Â Insufficiently provided a rationale for your response.
Partially examined the four (4) management issues that arise as a result of inmates with special needs. Partially prepared one (1) recommendation for each management issue that effectively neutralizes each concern. Partially provided a rationale for your response.
Satisfactorily examined the four (4) management issues that arise as a result of inmates with special needs. Satisfactorily prepare.
Assignment 1 Go back through the business press (Fortune, The Ec.docxdeanmtaylor1545
Assignment 1
Go back through the business press (Fortune, The Economist, BusinessWeek, and so forth and any other LIRN- based articles) and find at least three articles related to either downsizing, implementation of a new technology, or a merger or acquisition. In a minimum of four (4) pages in 7th edition APA formatted paper:
What were the key frontline experiences listed in relation to your chosen change?
How do they relate to those listed in Chapter 4?
Did you identify new ones confronting change managers?
How would you prioritize these experiences?
Do any stand out as “deal breakers”? Why?
What new insights into implementing this type of change emerge from this?
Assignment 2
PA2 requires you to identify a current change in an organization with which you are familiar and evaluate a current public issue about which “something must be done.” In relation to the change issue, think about what sense-making changes might need to be enacted and how you would go about doing this. Assess this in terms of the eight (8) elements of the sense-making framework suggested by Helms Mills and as set out in Table 9.7:
Identity construction
Social sense-making
Extracted cues
Ongoing sense-making
Retrospection
Plausibility
Enactment
Projection
Which ones did you believe you might have the most/least control over and why?
What implications does this have for adopting a sense-making approach to organizational change?
minimum of
four (4) pages document for each assignment
.
Assignment 1 Discussion—Environmental FactorsIn this assignment, .docxdeanmtaylor1545
Assignment 1: Discussion—Environmental Factors
In this assignment, you will have a chance to discuss a topic that brings personality theory together with social psychology. Dealing with unhealthy groups like gangs or cults is an important issue in social psychology. However, you cannot fully address this issue if you do not first understand personality development and how one’s personality affects the choices that are made. Specifically, you will look at Skinner’s behavioral perspective on personality development and discuss how that theory can play a role in this issue of unhealthy groups.
Bob is an adolescent who grew up in a gang-infested part of a large city. His parents provided little supervision while he was growing up and left Bob mostly on his own. He developed friendships with several kids in his neighborhood who were involved in gangs, and eventually joined a gang himself. Now crime and gang activities are a way of life for Bob. These have become his way to identify with his peer group and to support himself.
It is relatively easy to see that Bob’s environment has played a large role in his current lifestyle. This coincides with Skinner’s concept of environment being the sole determinant of how personality develops. Skinner believed that if you change someone’s environment and the reinforcements in that environment, you can change their behavior.
Use the Internet, Argosy University library resources, and your textbook to research Skinner’s concept of the environment and answer the following questions:
If you were to create an environment for Bob to change his behavior from that of a gang member to a respectable and law-abiding citizen, what types of environmental changes and positive reinforcements would you suggest and why?
What are some interventions that are used in the field currently? Are there any evidence-based programs that use these environmental and reinforcement interventions?
Write your initial response in 2–3 paragraphs. Apply APA standards to citation of sources.
By
Saturday, March 1, 2014
, post your response to the appropriate
Discussion Area
. Through
Wednesday, March 5, 2014
, review and comment on at least two peers’ responses.
.
Assignment 1 1. Using a Microsoft Word document, please post one.docxdeanmtaylor1545
Assignment 1
1. Using a Microsoft Word document, please post one federal and one state statute utilizing standard legal notation and a hyperlink to each statute.
2. In the same document, please post one federal and one state case using standard legal notation and a hyperlink to each case.
Assignment 2
A. Social media platforms such as Facebook, Twitter, and even Tiktok have become very powerful and influential. Please give your thoughts on whether governments should regulate the content of content on these media. Minimum 250 words.
B. Respond to two classmates' postings. Minimum 100 words per posting.
.
Assignment 1 Dealing with Diversity in America from Reconstructi.docxdeanmtaylor1545
Assignment 1:
Dealing with Diversity in America from Reconstruction through the 1920s
Due Week 3 and worth 120 points
After the Civil War, the United States had to recover from war, handle western expansion, and grapple with very new economic forms. However, its greatest issues would revolve around the legacies of slavery and increasing diversity in the decades after the Civil War. In the South, former slaves now had freedom and new opportunities but, despite the Reconstruction period, faced old prejudices and rapidly forming new barriers. Immigrants from Europe and Asia came in large numbers but then faced political and social restrictions. Women continued to seek rights. Yet, on the whole, America became increasingly diverse by the 1920s. Consider developments, policies, and laws in that period from 1865 to the 1920s. Examine the statement below and drawing from provided sources, present a paper with specific examples and arguments to demonstrate the validity of your position.
Statement—in which you can take a pro or con position:
Political policies and movements in the period from 1865 to the 1920s generally promoted diversity and “the melting pot” despite the strong prejudices of a few. (or you can take the position that they did not). Use specific examples of policies or movements from different decades to support your position.
After giving general consideration to your readings so far and any general research, select one of the positions above as your position—your thesis. (Sometimes after doing more thorough research, you might choose the reverse position. This happens with critical thinking and inquiry. Your final paper might end up taking a different position than you originally envisioned.) Organize your paper as follows, handling these issues:
The position you choose —or something close to it—will be the thesis statement in your opening paragraph.
To support your position, use three (3) specific examples from different decades between 1865 and 1930. You may narrowly focus on race or gender or immigrant status, or you may use examples relevant to all categories.
Explain why the opposing view is weak in comparison to yours.
Consider your life today: In what way does the history you have shown shape or impact issues in your workplace or desired profession?
Length: The paper should be 500-to-750 words in length.
Research and References: You must use a
MINIMUM of three sources
; the Schultz textbook must be one of them. Your other two sources should be drawn from the list provided below. This is guided research, not open-ended Googling.
Source list for Assignment 1:
Some sources are “primary” sources from the time period being studied. Some sources below can be accessed via direct link or through the primary sources links on Blackboard. Each week has a different list of primary sources. For others, they are accessible through the permalink to the source in our online library: Sources below having
libdatab.
Assignment 1 Due Monday 92319 By using linear and nonlinear .docxdeanmtaylor1545
This document provides guidance for counselors on an upcoming assignment due September 23rd. It instructs counselors to listen both linearly and nonlinearly during client assessments to build a strong therapeutic alliance and identify client needs, resources, strengths and gaps in their stories. Counselors are advised to consider both the conscious and unconscious parts of client stories, including recognizing potential adverse childhood experiences and how that might inform the assessment, guide goal development, and affect client readiness to change.
Assignment 1This assignment is due in Module 8. There are many v.docxdeanmtaylor1545
Assignment 1
This assignment is due in Module 8. There are many variations on WebQuests. Please make sure you follow these instructions and not those listed in the textbook. Although, reading the texts and learning another variation will only benefit you in the future. This assignment is worth 100 points.
1. Find a good website in which you can use for the exercise. If you want your students to learn more about zoo animals, then maybe you should locate your local zoo website and use it as a source. Make sure you choose a site that is age appropriate for your students. And please identify which grade and subject level you have chosen in the title.
2. After deciding on a website, create the student instructions for this exercise. Make sure to incorporate aesthetic value (picture). The instructions are very important because you do want your students to be excited about the activity.
3. You will ask the students 10 questions about the site and its information. Be sure the website is clear in its direction and easily navigated so the students can find the information. Create the questions and type them into a Word document with lines for students to use to fill in their answers.
4. After you finish your WebQuest, make sure you include a sheet with the answers to the questions.
5. Save the document as a .doc, .docx, or pdf and submit it via the assignment drop box by clicking on the title of the assignment.
Submission: To submit, choose the Assignment 4: WebQuest link above and use the file attachment feature to browse for and upload your completed document. Remember to choose Submit to complete the submission.
Grading: This assignment is worth 100 points toward your final grade and will be graded using the Webquest Rubric. Please use it as a guide toward successful completion of this assignment.
Assignment 2
This assignment is due in Module 9. The objective of this lesson is to utilize the Internet to help clarify/expand upon your teaching, while creating a field trip environment for your students.
There are times when you will not have the funding to take your class on an actual field trip. With the help of technology, you can now visit various sites without leaving the room. For assignment 4, you are going to plan a virtual field trip for your classroom. Think about the grade level, subject area, possible topics for the curriculum that you teach, and appropriate online communication. You must create an original, virtual field trip. You cannot use someone else's field trip. Remember, you can utilize various software (PowerPoint, Prezi, etc.) to create this field trip, but be careful, it is not a lesson with technology assisted software. The students have to feel like they are truly at the location of the field trip looking at the exhibit, animal, statue, and so forth. There should be no words on the slides because it is not a classroom lesson, it is a field trip.
You will be the tour guide, and everything you plan to say as the guide shoul.
Assignment 1TextbookInformation Systems for Business and Beyond.docxdeanmtaylor1545
Assignment 1
Textbook:Information Systems for Business and Beyond
Please answer the following
From Chapter 1 – Answer Study questions 1-5 and Exercise 3
From Chapter 2 – Answer Study questions 1-10 and Exercise 2 (should be a Power point presentation)
All the above questions should be submitted in one Word document, except for the PowerPoint presentation (Chapter 2 - Exercise 2).
Please understand that Plagiarism will not be tolerated and will result in a zero grade.
Submission Requirements
Font: Times New Roman, size 12, double-space
Citation Style: APA
References: Please use citations and references where appropriate
No Plagiarism
Chapter 1: What Is an
Information System?
Learning Objectives
Upon successful completion of this chapter, you will be
able to:
• define what an information system is by identifying
its major components;
• describe the basic history of information systems;
and
• describe the basic argument behind the article
“Does IT Matter?” by Nicholas Carr.
Introduction
Welcome to the world of information systems, a world that seems to
change almost daily. Over the past few decades information systems
have progressed to being virtually everywhere, even to the point
where you may not realize its existence in many of your daily
activities. Stop and consider how you interface with various
components in information systems every day through different
Chapter 1: What Is an Information
System? | 9
electronic devices. Smartphones, laptop, and personal computers
connect us constantly to a variety of systems including messaging,
banking, online retailing, and academic resources, just to name a
few examples. Information systems are at the center of virtually
every organization, providing users with almost unlimited
resources.
Have you ever considered why businesses invest in technology?
Some purchase computer hardware and software because everyone
else has computers. Some even invest in the same hardware and
software as their business friends even though different technology
might be more appropriate for them. Finally, some businesses do
sufficient research before deciding what best fits their needs. As
you read through this book be sure to evaluate the contents of each
chapter based on how you might someday apply what you have
learned to strengthen the position of the business you work for, or
maybe even your own business. Wise decisions can result in stability
and growth for your future enterprise.
Information systems surround you almost every day. Wi-fi
networks on your university campus, database search services in
the learning resource center, and printers in computer labs are
good examples. Every time you go shopping you are interacting
with an information system that manages inventory and sales. Even
driving to school or work results in an interaction with the
transportation information system, impacting traffic lights,
cameras, etc. V.
ASSIGNMENT 1TASK FORCE COMMITTEE REPORTISSUE AND SOLUTI.docxdeanmtaylor1545
The document provides instructions for an assignment to analyze an organizational issue and propose solutions as the leader of a task force committee. Students are asked to: 1) Describe the selected organization and issue affecting productivity; 2) Analyze how the current corporate culture contributed to the issue; 3) Identify areas of weakness in the organization; 4) Propose modifications to practices and solutions to resolve the issue; and 5) Prepare a one-page executive summary of recommendations. The assignment aims to expose students to modern organizational challenges and develop solutions reflecting their learning.
Assignment 1Select one of these three philosophers (Rousseau, Lo.docxdeanmtaylor1545
This document contains instructions for 5 separate assignments related to ethics, diversity, and organizational culture. Assignment 1 asks students to analyze differences between ideas of philosophers like Rousseau, Locke and Hobbes and modern democracies. Assignment 2 involves responding to inappropriate workplace comments and discussing ethical and legal implications. Assignment 3 has students analyze alternatives and implications related to a case study on discrimination. Assignment 4 examines organizational culture and inclusion at Sherwood Manufacturing. Assignment 5 is researching diversity at different organizations and comparing their cultures.
Assignment 1Scenario 1You are developing a Windows auditing pl.docxdeanmtaylor1545
Assignment 1
Scenario 1
You are developing a Windows auditing plan and need to determine which log files to capture and review. You are considering log files that record access to sensitive resources. You know that auditing too many events for too many objects can cause computers to run more slowly and consume more disk space to store the audit log file entries.
Answer the following question(s): (2 References)
If computer performance and disk space were not a concern, what is another reason for not tracking audit information for all events?
Scenario 2
Assume you are a security professional. You are determining which of the following backup strategies will provide the best protection against data loss, whether from disk failure or natural disaster:
· Daily full server backups with hourly incremental backups
· Redundant array of independent disks (RAID) with periodic full backups
· Replicated databases and folders on high-availability alternate servers
Answer the following question(s): (2 References)
Which backup strategy would you adopt? Why?
Assignment 1 Submission Requirements
Format: Microsoft Word (or compatible)
Font: Arial, size 12, double-space
Citation Style: APA
Length: At least 350 words for each question
References: At least 2 credible scholarly references for each question
No plagiarism
Assignment 2: Security Audit Procedure Guide
Scenario
Always Fresh wants to ensure its computers comply with a standard security baseline and are regularly scanned for vulnerabilities. You choose to use the Microsoft Security Compliance Toolkit to assess the basic security for all of your Windows computers and use OpenVAS to perform vulnerability scans.
Tasks
Develop a procedure guide to ensure that a computer adheres to a standard security baseline and has no known vulnerabilities.
For each application, fill in details for the following general steps:
1. Acquire and install the application.
2. Scan computers.
3. Review scan results.
4. Identify issues you need to address.
5. Document the steps to address each issue.
Assignment 2 Submission Requirements
Format: Microsoft Word (or compatible)
Font: Arial, size 12, double-space
Citation Style: APA
Length: At least 3 pages
References: At least 4 credible scholarly references
No plagiarism
Assignment 3: System Restoration Procedure Guide
Scenario
One of the security improvements at Always Fresh is setting up a system recovery procedure for each type of computer. These procedures will guide administrators in recovering a failed computer to a condition as near to the point of failure as possible. The goal is to minimize both downtime and data loss.
You have already implemented the following backup strategies for workstation computers:
· All desktop workstations were originally installed from a single image for Always Fresh standard workstations. The base image is updated with all patches and new software installed on live workstations.
· Desktop workstation computers execute a cloud backup eve.
Assignment 1Research by finding an article or case study discus.docxdeanmtaylor1545
A
ssignment 1:
Research by finding an article or case study discussing ONE of the following laws or legal issues as it relates to computer forensics:
1) Electronic Communications Privacy Act (ECPA)
2) Cable Communications Privacy Act (CCOA)
3) Privacy Protection Act (PPA)
4) USA Patriot Act of 2001
5) Search and seizure requirements of the Fourth Amendment
6) Legal right to search the computer media
7) Legal right to remove the computer media from the scene
8) Availability of privileged material on the computer media for examination
Using at least 500 words - summarize the the article you have chosen. You will be graded on Content/Subject Knowledge, Critical Thinking Skills, Organization of Ideas, and Writing Conventions.
.
Assignment 1Positioning Statement and MottoUse the pro.docxdeanmtaylor1545
Assignment 1
Positioning Statement and Motto
Use the provided information, as well as your own research, to assess one (1) of the stated brands (Alfa Romeo Hewlett Packard, Subway, or Sony) by completing the questions below. At the end of the worksheet, be sure to develop a new positioning statement and motto for the brand you selected. Submit the completed template in the Week 4 assignment submission link.
Name:
Professor’s Name:
Course Title:
Date:
Company/Brand Selected (Alfa Romeo Hewlett Packard, Subway, or Sony):
1. Target Customers/Users
Who are the target customers for the company/brand? Make sure you tell why you selected each item that you did. (NOTE: DO NOT say “ANY, ALL, EVERYONE” you cannot target everyone, you must be specific)
Age Bracket: [Insert response]
Gender: [Insert response]
Income Bracket: [Insert response]
Education Level: [Insert response]
Lifestyle: [Insert response]
Psychographics (Interest, Hobbies, Past-times): [Insert response]
Values (What the customer values overall in life): [Insert response]
Other items you would segment up on: [Insert response]
How does the company currently reach its customers/users? What methods and media does the company use to currently reach the customers/users? What methods and media should the company use to currently reach the customers/users?
[Insert response]
What would grab the customers/users’ attention? Why do you think this will capture their attention?
[Insert response]
What do these target customers’ value from the business and its products? Why do you think they value these items?
[Insert response]
2. Competitors
Who are the brand’s competitors? Provide at least 3 competitors and tell why you selected each competitor.
Competitor 1: [Insert response]
Competitor 2: [Insert response]
Competitor 3: [Insert response]
What product category does the brand fit into? Why have you placed this brand into the product category that you did?
[Insert response]
What frame of reference (frame of mind) will customers use in making a choice to use/purchase this brand/service? What other brands/companies might customers compare this brand to (other than the top three identified above)?
[Insert response]
3. USP (Unique Selling Proposition) Creation
What is the brand’s uniqueness? Why do you think this is a key uniqueness for this business?
[Insert response]
What is the competitive advantage of the brand? How is it different from other competing brands? Why do you consider this a competitive advantage?
[Insert response]
What attributes or benefits does the brand have that dominate competitors? Why do you think they dominate?
[Insert response]
How is this brand/company better than its competitors? What is the brand’s USP (Unique Selling Proposition? Why have you decided upon this USP?
Unique Selling Proposition: [Insert response]
Defense of USP: [Insert response]
4. Positioning Statement & Motto
Develop a new positioning statement and motto for the brand you selected. Below is an.
ASSIGNMENT 1Hearing Versus ListeningDescribe how you le.docxdeanmtaylor1545
ASSIGNMENT 1:
Hearing Versus Listening
Describe how you learned how to listen! Please use between 300-500 words to make a complete description of this learned behavior. Did you learn to listen properly? Do you still listen the same way that you were taught as a child? Why or why not?
“Doctor Aunt”
by Eden, Janine and Jim.
CC-BY
.
A mother takes her four-year-old to the pediatrician reporting she’s worried about the girl’s hearing. The doctor runs through a battery of tests, checks in the girl’s ears to be sure everything looks good, and makes notes in the child’s folder. Then, she takes the mother by the arm. They move together to the far end of the room, behind the girl. The doctor whispers in a low voice to the concerned parent: “Everything looks fine. But, she’s been through a lot of tests today. You might want to take her for ice cream after this as a reward.” The daughter jerks her head around, a huge grin on her face, “Oh, please, Mommy! I love ice cream!” The doctor, speaking now at a regular volume, reports, “As I said, I don’t think there’s any problem with her hearing, but she may not always be choosing to listen.”
Hearing
is something most everyone does without even trying. It is a physiological response to sound waves moving through the air at up to 760 miles per hour. First, we receive the sound in our ears. The wave of sound causes our eardrums to vibrate, which engages our brain to begin processing. The sound is then transformed into nerve impulses so that we can perceive the sound in our brains. Our auditory cortex recognizes a sound has been heard and begins to process the sound by matching it to previously encountered sounds in a process known as
auditory association
.
[1]
Hearing has kept our species alive for centuries. When you are asleep but wake in a panic having heard a noise downstairs, an age-old self-preservation response is kicking in. You were asleep. You weren’t listening for the noise—unless perhaps you are a parent of a teenager out past curfew—but you hear it. Hearing is unintentional, whereas
listening
(by contrast) requires you to pay conscious attention. Our bodies hear, but we need to employ intentional effort to actually listen.
“Hearing Mechanics”
by Zina Deretsky. Public domain.
We regularly engage in several different types of listening. When we are tuning our attention to a song we like, or a poetry reading, or actors in a play, or sitcom antics on television, we are listening for pleasure, also known as
appreciative listening
. When we are listening to a friend or family member, building our relationship with another through offering support and showing empathy for her feelings in the situation she is discussing, we are engaged in
relational listening
. Therapists, counselors, and conflict mediators are trained in another level known as
empathetic or therapeutic listening
. When we are at a political event, attending a debate, or enduring a salesperson touting the benefits of vario.
assignment 1
Essay: Nuclear Proliferation
The proliferation of nuclear weapons is closely monitored by the international community. While the international community formally recognizes only five nuclear powers - the United States, Russia, China, France, and the United Kingdom - it is widely acknowledged that at least four others (India, Israel, North Korea, and Pakistan) currently possess nuclear weapons and one other (Iran) is attempting to develop nuclear weapons capabilities.
Describe the current international regime governing the development of nuclear weapons, including the major agreements and treaties controlling nuclear technology. Explain why the international community generally seeks to prevent the proliferation of nuclear weapons. (500-750 words)
assignment 2
World military spending is nearly $2 trillion every year. If you could redirect these funds, how would you use them? Would such uses be better or worse for the states involved? Do you think there is a realistic chance of redirecting military spending in the way you suggest? (150 words minimum)
assignment 3
Human Rights: A Hollow Promise to the World?
( one paragraph )
.
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
हिंदी वर्णमाला पीपीटी, hindi alphabet PPT presentation, hindi varnamala PPT, Hindi Varnamala pdf, हिंदी स्वर, हिंदी व्यंजन, sikhiye hindi varnmala, dr. mulla adam ali, hindi language and literature, hindi alphabet with drawing, hindi alphabet pdf, hindi varnamala for childrens, hindi language, hindi varnamala practice for kids, https://www.drmullaadamali.com
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
Thinking of getting a dog? Be aware that breeds like Pit Bulls, Rottweilers, and German Shepherds can be loyal and dangerous. Proper training and socialization are crucial to preventing aggressive behaviors. Ensure safety by understanding their needs and always supervising interactions. Stay safe, and enjoy your furry friends!
How to Build a Module in Odoo 17 Using the Scaffold MethodCeline George
Odoo provides an option for creating a module by using a single line command. By using this command the user can make a whole structure of a module. It is very easy for a beginner to make a module. There is no need to make each file manually. This slide will show how to create a module using the scaffold method.
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
Assessment and Planning in Educational technology.pptxKavitha Krishnan
In an education system, it is understood that assessment is only for the students, but on the other hand, the Assessment of teachers is also an important aspect of the education system that ensures teachers are providing high-quality instruction to students. The assessment process can be used to provide feedback and support for professional development, to inform decisions about teacher retention or promotion, or to evaluate teacher effectiveness for accountability purposes.
বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
তাই একজন নাগরিক হিসাবে এই তথ্য গুলো আপনার জানা প্রয়োজন ...।
বিসিএস ও ব্যাংক এর লিখিত পরীক্ষা ...+এছাড়া মাধ্যমিক ও উচ্চমাধ্যমিকের স্টুডেন্টদের জন্য অনেক কাজে আসবে ...
Physiology and chemistry of skin and pigmentation, hairs, scalp, lips and nail, Cleansing cream, Lotions, Face powders, Face packs, Lipsticks, Bath products, soaps and baby product,
Preparation and standardization of the following : Tonic, Bleaches, Dentifrices and Mouth washes & Tooth Pastes, Cosmetics for Nails.
Film vocab for eal 3 students: Australia the movie
Teaching caseThe SOX compliance journey at TrinityIndu.docx
1. Teaching case
The SOX compliance journey at Trinity
Industries
Ulrike Schultze
ITOM, Cox School of Business, Southern Methodist University,
Dallas, Texas, USA
Correspondence:
U Schultze, ITOM, Cox School of Business, Southern Methodist
University, Dallas, Texas, USA.
Tel: 214-768-4265;
Fax: 214-768-4099;
E-mails: [email protected]; [email protected]
Abstract
Process and information technology changes in organizations
are not always voluntary
and motivated by strategic goals. Instead, they may be imposed
on organizations by
regulatory bodies and certifying agencies. This teaching case
focuses on one company’s
multi-year journey of making process and information
technology changes so as to comply
with a new set of regulations known as the Sarbanes-Oxley Act
(SOX). Even though SOX
compliance work focuses on designing, implementing, and
testing internal controls, these
controls are nothing but activities designed to ensure that
processes implicated in the
production of financial information are completed correctly and
2. that the financial
representations they generate are reliable. Thus, despite its
emphasis on internal controls,
accounting and auditing, this teaching case provides students
with insights into
compliance-related process improvement and system integration
in general.
Journal of Information Technology Teaching Cases (2011) 1,
91–113. doi:10.1057/jittc.2011.11;
published online 4 October 2011
Keywords: compliance-related process improvement; internal
controls; Sarbanes-Oxley Act; systems
integration
I
n his office overlooking the Trinity River flats in Dallas,
TX, Don Collum, VP and Chief Audit Executive at Trinity
Industries, was about to chair his weekly meeting with
KPMG partner, Jarrod Bassman, who had been overseeing
the KPMG engagement for Sarbanes-Oxley Act (SOX)
compliance at Trinity since 2003. It was mid-January
2008, and the external audit report regarding Trinity’s SOX
compliance for the year ending December 2007 was on the
meeting agenda. Once again they could pat themselves on
the back: for the fourth year in a row, Trinity passed its
SOX audit without material weaknesses.1
Reflecting on Trinity’s SOX compliance journey, Don
identified numerous accomplishments. In October 2003,
when he first began consulting with Trinity Industries on
their SOX initiative, he described the company as a
‘candidate of a company that could have had a material
weakness as defined by SOX’ even though it was a highly
successful, well-run and disciplined organization that
consistently delivered shareholder value through growth
3. and had never had cause to restate its earnings. But when it
came to SOX compliance, Trinity faced the same challenges
that most companies did, namely a general lack of process
and control documentation and evidence that controls had
been performed. In addition, Trinity’s operations were
highly diversified and decentralized, and their information
systems were fragmented. Trinity had forgone the im-
plementation of an integrated enterprise system even
during the Y2K scare, citing the unique nature and
requirements of its 22 business units (BUs). This meant
that the company relied on its three versions of BPCS, a
Business Planning and Control System, for its cost
accounting and production scheduling system in its
approximately 70 plants.2 Even though the different
versions all ran on the AS/400 computing platform, they
were nevertheless operating in seven different control
environments, that is, different IT organizations were
maintaining them and the implementations had been
customized to varying degrees. As a result, a separate set
of controls had to be developed, maintained and tested for
each of these control environments.
Despite these challenges, all their SOX compliance audits
had identified no material weaknesses at Trinity. Further-
more, the number of SOX controls Trinity tested had halved
from year to year (see Table 1), thereby decreasing the
compliance costs.
But this was not a time on rest on their laurels. Don, who
became Trinity’s Chief Audit Executive in May 2004, was
aware of a number of challenges that Trinity would have to
Journal of Information Technology Teaching Cases (2011) 1,
91–113
& 2011 JITTC Palgrave Macmillan All rights reserved 2043-
4. 8869/11
palgrave-journals.com/jittc/
tackle and he wanted to set some specific goals that would
guide their SOX work for 2008. One pressing issue was the
further reduction of audit costs. There was a general
consensus within the audit group that the approximately
500 controls that Trinity had tested for the last 2 years
represented as lean a control infrastructure as the company
could muster without undergoing significant IT change.
Should Trinity implement an ERP system after all? Should
they try to emulate a leading global manufacturer that
claimed to test only 25 controls for SOX thanks to a single
instance ERP system representing global operations? Or were
there other cost-reduction alternatives Trinity could pursue?
Another issue related to the International Financial
Reporting Standards (IFRS). It was clear that IFRS
legislation would be passed in the United States; the only
question was when. For Trinity, this raised questions about
when and how to prepare for it.
Company background
Trinity Industries was born out of the 1958 merger between
Trinity Steel and Dallas Tank, both struggling propane tank
companies located in Dallas. W Ray Wallace, who was hired
as an engineer and the 17th employee at Trinity Steel in
1946,3 became Trinity Industry’s first CEO. He led the
company for 40 years, turning the struggling propane tank
manufacturer into a US$2.4 billion provider of diversified
products and services to the industrial, energy, transporta-
tion, and construction sectors.
5. In July 1998, Timothy Wallace, Ray’s son, took over the
helm as CEO of Trinity Industries. He joined Trinity in
1976, the year he graduated with a B.B.A. from Southern
Methodist University. Working his way from the ground up
and gaining first-hand experience with the various Trinity
businesses provided Tim with the kind of in-depth knowl-
edge he needed to lead the company and grow it into the
$3.8 billion enterprise it became in 2007.
Trinity manufactured freight and tank rail cars to
transport dry cargo and liquefied or pressurized commod-
ities, respectively, dry-cargo and tank barges, propane
tanks, highway guardrail and crash cushions, and structural
wind towers. Strategically, Trinity sought to hold a leader-
ship position in each of its markets. Thus, Trinity Rail
combined resources of the leading manufacturer of railcars
in North America. Trinity’s Marine Products group was the
largest manufacturer of inland barges and fiberglass covers
for barges in the United States. Furthermore, Trinity’s
Highway Products group was the only full-line manufac-
turer of highway guardrail and crash cushions in the United
States.
The company also provided concrete and aggregates,
which they mined themselves to the construction industry.
Transit Mix Concrete & Materials Company, Trinity
Materials Inc. and Armor Materials Inc. were leading
producers of concrete, aggregates, and asphalt in Texas.
Despite Trinity’s manufacturing focus, the Railcar Leasing
group was one of its fastest growing businesses and a
leading provider of railcar leasing and management
services. It offered a variety of railcar leasing options,
including full service, net, and per diem leases on either
new railcars built by Trinity’s Rail group or railcars from
the Leasing group’s lease fleet.
6. With manufacturing facilities in the United States and
Mexico, Trinity had 14,400 employees working in 22 BUs in
2007. The BUs were grouped into five principal groups or
lines of business (LOB) for financial reporting purposes: the
Rail Group, the Railcar Leasing and Management Services
Group, the Inland Barge Group, the Construction Products
Group, and the Energy Equipment Group (see Table 2 for
short profiles on each LOB). The Rail Group was the largest,
employing about half of Trinity’s workforce and generating
39% of it revenues.
Trinity’s leadership consistently focused on being a
premier, multi-industry growth company, a vision that it
generally achieved. For instance, since 2005, revenues
increased by 19% a year (see Tables 3 and 4 for more
details on Trinity Industry’s recent financial performance).
The SOX of 2002
Enacted as a federal law in June 2002, the SOX was a
response to the corporate and accounting scandals
perpetrated by companies like Enron, WorldCom, and
Adelphia Communications. These scandals not only cost
investor’s billions of dollars, but also shook the public’s
confidence in the nation’s security markets. In an act
consisting of 11 sections, SOX legislated, among others,
enhanced financial reporting standards for public compa-
nies, officers’ individual responsibilities for the accuracy of
corporate financial reports, and an oversight body, the
PCAOB, to regulate public accounting companies in their
capacity as external auditors.
Public companies were given until December 2004 to
comply with SOX. For most, this meant implementing two
key provisions of the act: Section 302, which dealt with the
internal certification of controls, and Section 404, which
focused on the assessment of internal controls. Section 302
7. mandated a set of internal procedures designed to ensure
accurate financial disclosure. The signing officers had to
certify that they were ‘responsible for establishing and
Table 1 Trinity’s SOX compliance journey by the numbers
Year Controls
monitored
Controls
tested
Control
owners
Testing hours
(internal)
Testing hours
(external)
Total testing cost
(in millions)
2004 2485 2440 516 3000 25,000 $2.5
2005 2752 1096 487 6269 6791 $1.3
2006 1882 524 328 6540 6464 $1.2
2007 2180 505 434 5915 5456 $1.0
Source: Internal Company Documentation.
The SOX compliance journey at Trinity Industries U Schultze
92
8. Table 2 Profile of Trinity’s lines of business (2008)
Trinity’s Rail Group (11 BUs) % Revenue: 39% % Operating
Profit: 32%
Largest manufacturer of railcars in North America
Largest railcar axle manufacturer in North America
Largest railcar coupler manufacturer in North America
Trinity’s Rail Leasing and Management Services Group %
Revenue: 15% % Operating Profit: 28%
Leading provider of railcar leasing and management services
Trinity’s Construction Products Group (8 BUs) % Revenue:
19% % Operating Profit: 11%
Largest full-line highway guardrail and crash cushion
manufacturer in the United States
Leading producer of concrete and aggregates in Texas
Trinity’s Energy Equipment Group % Revenue: 13% %
Operating Profit: 12%
Leading full-line LPG tank manufacturer in North America
Leading manufacturer of structural wind towers in North
America
Trinity’s Inland Barge Group (3 BUs) % Revenue: 14% %
Operating Profit: 17%
Largest barge manufacturer in the United States
Largest fiberglass hopper barge cover manufacturer in the
United States
Source: August 2008 Company Presentation published on
Trinity website & company-internal documentation.
Table 3 Consolidated income statement (2005–2007)
Year ended 31 December
2007 2006 2005
(in millions, except per share data)
9. Revenues $3832.8 $3218.9 $2709.7
Operating Costs
Cost of revenues 3091.1 2628.2 2324.4
Selling, engineering, and administrative expenses 228.9 208.1
181.2
3320.0 2836.3 2505.6
Operating profit 512.8 382.6 204.1
Other (income) expense
Interest income (12.2) (14.8) (3.1)
Interest expense 76.2 64.1 42.2
Other, net (14.4) (15.2) (11.1)
49.6 34.1 28.0
Income from continuing operations before income taxes 463.2
348.5 176.1
Provision for income taxes
Current 110.1 57.5 43.9
Deferred 59.3 75.5 21.7
169.4 133.0 65.6
Income from continuing operations 293.8 215.5 110.5
Discontinued operations
Gain on sales of discontinued operations, net of provision for
income taxes of $12.2 — 20.4 —
Loss from discontinued operations, net of benefit for income
taxes of $(0.2) $(1.7), and $(8.3) (0.7) (5.8) (24.2)
Net income 293.1 230.1 86.3
10. Dividends on Series B preferred stock — — (3.2)
Net income applicable to common shareholders $293.1 $230.1
$83.1
Net income (loss) applicable to common shareholders per
common share
Basic
Continuing operations $3.73 $2.80 $1.51
Discontinued operations (0.01) 0.19 (0.34)
$3.72 $2.99 $1.17
Diluted
Continuing operations $3.65 $2.72 $1.44
Discontinued operations (0.00) 0.18 (0.31)
$3.65 $2.90 $1.13
Weighted average number of shares outstanding
Basic 78.7 76.9 71.0
Diluted 80.4 79.3 76.7
Dividends declared per common share $0.26 $0.21 $0.17
The SOX compliance journey at Trinity Industries U Schultze
93
maintaining internal controls’ and had ‘designed such
internal controls to ensure that material information
relating to the company and its consolidated subsidiaries
is made known to such officers by others within those
entities, particularly during the period in which the
periodic reports are being prepared’ (15 U.S.C.4 y
11. 7241(a)). The officers had to ‘have evaluated the effective-
ness of the company’s internal controls as of a date within
90 days before the report’ and ‘presented in the report their
conclusions about the effectiveness of their internal
controls based on their evaluation as of that date.’
Section 404 required management and the external
auditor to report on the adequacy of the company’s internal
control over financial reporting. This was the most costly
aspect of the legislation for companies to implement, due to
the effort involved in documenting and testing manual and
automated controls. Management was also required to
produce an ‘internal control report’ that acknowledged ‘the
responsibility of management for establishing and main-
taining an adequate internal control structure and proce-
dures for financial reporting’ (15 U.S.C. y 7262(a)). The
report also had to ‘contain an assessment, as of the end of
the most recent fiscal year of the Company, of the
effectiveness of the internal control structure and proce-
dures of the issuer for financial reporting.’ Managers
generally adopted an internal control framework, such as
COSO,5 for this assessment.
2003Q3–2004Q4: year 1 of the SOX compliance journey
During the time that SOX legislation was making its way
through Congress, Trinity was making significant changes
Table 4 Consolidated balance sheet (2006–2007)
ASSETS 31
December
2007
31
12. December
2006
(in millions)
Cash and cash equivalents $289.6 $311.5
Receivables (net of allowance for doubtful accounts of $4.0 at
31 December 2007 and $3.8 at
31 December 2006)
296.5 252.5
Inventories
Raw materials and supplies 302.6 316.5
Work in process 127.3 139.1
Finished goods 156.8 73.3
586.7 528.9
Property, plant and equipment, at cost 2849.6 2318.8
Less accumulated depreciation (779.8) (728.5)
2069.8 1590.3
Goodwill 503.5 463.7
Assets held for sale and discontinued operations 3.6 10.8
Other assets 293.5 267.9
$4043.2 $3425.6
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and accrued liabilities $684.3 $655.8
Debt
Recourse 730.3 772.4
Non-recourse 643.9 426.5
13. 1374.2 1198.9
Deferred income 58.4 42.9
Liabilities held for sale and discontinued operations 1.2 7.8
Other liabilities 198.4 116.7
2316.5 2022.1
Stockholders’ equity
Preferred stock – 1.5 shares authorized and un-issued — —
Common stock – shares authorized – 200.0; shares issued and
outstanding
at 31 December 2007 – 81.6.6; at 31 December 2006 – 80.0
81.6 80.0
Capital in excess of par value 538.4 484.3
Retained earnings 1177.8 908.8
Accumulated other comprehensive loss (61.6) (69.2)
Treasury stock – at 31 December 2007 – 0.2 shares; at 31
December 2006 – 0.0 shares (9.5) (0.4)
1726.7 1403.5
$4043.2 $3425.6
The SOX compliance journey at Trinity Industries U Schultze
94
to its financial reporting processes. It reengineered financial
reporting and standardized on one financial reporting
system. This meant that the 22 – one per BU – financial
reporting processes were replaced with one centralized
process. This involved replacing the four general ledger
14. packages running at Trinity with one instance of Oracle
Financials. It was estimated that the Oracle project saved
Trinity $.5 million annually in SOX compliance expenses.
In addition, Trinity developed the Accounting Service
Center (ASC), which provided centralized, outsourced
services for routine, organization-wide transaction proces-
sing such as billing, payroll, and AP. Thus, instead of
individual BUs processing their own accounts payable
transactions, these accounting transactions were completed
centrally and, by implication, standardized. Even though
the ASC was run and operated by an independent service
provider, most of its Trinity-related operations were
housed on the Trinity campus in Dallas.
While the co-location strengthened Trinity’s ability to
assess the outsourcer’s controls, the up-front, data capture
work was eventually moved to India for an additional 20%
cost savings. This required an annual compliance audit by a
Trinity representative at the outsourcer’s facilities in India.
Even though the $28 million Oracle initiative was
instigated primarily to improve reporting effectiveness,
that is, facilitate more timely closing of books and improve
the availability of financial information, Chas Michel,
Trinity’s Chief Accounting Officer, highlighted that the
project was given priority in anticipation of SOX:
You knew the legislation was coming and you had kind of
an idea of when. You could see it. Clearly it was going to
happen.
Jake Farkas, Director of Finance and Accounting, led both
the Oracle Financials and ASC outsourcing initiatives.
Relying on a rigorous project management approach,
organizational structures like a steering committee and a
15. project management office (PMO), and expertise from
consulting resources, both projects were successfully
implemented in April 2003. Both were on time and within
budget. This was a considerable accomplishment especially
in light of the challenges Trinity had previously experienced
with large-scale IT projects and the deep-seated resistance
organizational members harbored toward outsourcing.
The project team learned valuable lessons from the
Oracle and ACS projects, including the importance of
project management and change management. The team’s
careful analysis of the financial processes in the various
BUs also highlighted the lack of process and control
documentation throughout the organization. It became
increasingly clear that when it came to SOX compliance,
Trinity had a lot of work to do.
Even though he was part of the Finance organization,
Jake was tapped to lead the SOX compliance project, in
large part because Trinity’s internal audit group consisted
of only two people. Leveraging the existing project team
and the lessons learned from the Oracle and ASC initiatives,
he formed both a PMO and a steering committee to oversee
the project. The steering committee reported to the CFO,
was led by the CAO, and its members included the BU CFOs
as well as representatives from Internal Audit, KPMG, and
E&Y, the external auditor.
Jake secured advisory knowledge from KPMG and
directed them to approach the compliance effort from a
project management perspective. The KPMG team did just
that and outlined the following project phases (see Figure 1
for a GANTT Chart):
Project scoping
16. The purpose of this project-scoping phase was to build a
project methodology, to develop a common language
among the participants (i.e., E&Y, KMPG, and the Trinity
steering committee), to estimate the project’s size and
determine the right level of documentation. In order to
estimate the size of the SOX project, the steering committee
assessed the degree to which key processes (see Table 5
for a list of process areas) were standardized and/or
2003 2004
Q3 Q4 Q1 Q2 Q3
Complete Pilot Projects
Finalize Scope
Document Control
Environment
July ? Nov. 2003
Recommendations
Nov.-Dec. 2003
Roll-out Organizational
Self Assessment
Dec. 2003 – March 2004
Conduct Validation
Testing
March –?June 2004
Management Assertion
External Audit Testing
Audit Committee
Meeting
17. July 2003
August 2003
Finalize Gap Analysis
and Develop
June 2004
July – Sept. 2004
Figure 1 SOX compliance project plan (Q2003–Q4004).
The SOX compliance journey at Trinity Industries U Schultze
95
centralized. Their analysis revealed that there were
numerous processes that were conducted in multiple
locations and would therefore have to be documented,
controlled, and tested in multiple control environments.
This information was then used to estimate the total
number of hours and average FTEs required throughout the
project’s life cycle.
In order to gain insight into the amount of time and
effort process and control documentation would require
and the kinds of control gaps Trinity should anticipate, the
KPMG team led pilot SOX projects in two manufacturing
BUs: a Highway Safety facility in Lima and a Marine Tank-
Barge facility in Madisonville. The BUs were chosen for
their representativeness of different manufacturing opera-
tions at Trinity and their relative difference with regard
to the products they produced. Table 6 summarizes the
control and gap profile that the pilots yielded.
18. The majority of gaps were related to the documentation
of control activities such as management reviews of
monthly/quarterly financial statements or reconciliations
among various accounts.
Project planning, tool set-up, team identification, and training
This phase saw the fleshing out of the project GANTT chart
and included a process risk assessment for individual BUs
to prioritize processes and controls for documentation. In
addition, KMPG helped Trinity build and populate a
database application. This application served as a central
repository for all SOX controls and allowed Trinity to track
each control’s testing history and any changes made to it
over time. Although the descriptions of the controls were
published on the Trinity intranet, their history and testing
status were not.
In this phase, KPMG also assisted the steering committee
in developing and training the documentation teams on the
templates they would be using for the project. The three
primary documents were flowcharts and matrices for
controls, and gap-analyses. In addition, a control catalog
that outlined a numbering scheme for controls by specific
processes was developed. Since each of the BUs would
document their own processes and controls, the catalog
numbering scheme would help identify and organize the
controls.
Table 5 Process areas for SOX compliance (2004)
Routine transactions Non-routine transactions
Manufacturing operations Restructuring
Inventory operations Legal
Leasing/finance operations Acquisitions and divestitures
Mining operations Regulatory
19. Contract operations Self-insurance
Revenue and AR Benefits and pension plan adjustments
Expenditure and AP Asset impairment
Payroll Intangibles/goodwill impairment
Capital expenditures
Treasury Financial reporting
Taxes Closing
Consolidation
Information technology Journal entries
IT control environment Disclosure and presentation
Control environment Fraud prevention and detection
Control environment Fraud prevention/detection
Table 6 Pilot control and gap profile
Highway safety Tank-barge
Total key controls 83 67
Preventive controls 65% 55%
Detective controls 35% 45%
Manual controls 75% 86%
System controls 25% 14%
Total control gaps identified 13 19
Gaps related to documentation 9 15
Key controls: controls that pertain to SOX compliance;
Preventive control: controls that prevent a mistake from
happening, for example,
check customer’s credit before authorizing a sale; Detective
control: control that detects a mistake after it has happened, for
example,
reconciling bank account; Manual control: control completed by
a person, for example, reviewing and signing a document;
System control:
20. control automatically completed by a computer system, for
example, matching electronic purchase order to electronic
delivery notice.
The SOX compliance journey at Trinity Industries U Schultze
96
Documentation of processes and controls
Having identified where in the organization each of the key
processes were performed and controlled, that is, at
Corporate, ASC, Group or individual BU, the documenta-
tion of processes and controls began. This work fell to
documentation teams consisting of KPMG advisors, mem-
bers of Trinity’s internal audit group, and BU controllers.
The team would interview the organizational members to
understand their processes and controls. These were then
documented in flowcharts and control matrices, and shared
with the organizational members for correction and feed-
back. The focus of this project phase was to identify the AS–
IS state of processes and controls through a bottom-up
analysis of the organization’s work practices.
Comparison of controls and expectations to identify gaps
Although the documentation phase had focused on the AS–
IS processes and controls, the documentation teams had
nevertheless noted gaps between the AS–IS practices and a
SOX-compliant (or TO–BE) way of operating. In this fourth
project phase, the documentation teams focused on these
gaps by completing gap-analysis matrices for controls with
gaps. A control gap might be the lack of corrective controls
around inventory adjustments, for example, adjustments
made to the BPCS system after a physical stock count. A
documentation-related control gap might be noted if an
employee initialed a checklist as evidence that all the
21. transactions on the checklist, for example, a number of
reconciliations, had been completed. For proper evidence
that the control activity had been completed, each
transaction (or reconciliation) had to be initialed sepa-
rately.
In addition to describing these gaps, the gap-analysis
template required the team to note additional control
activites that would mitigate the risk of each control gap, an
indicator of the impact’s severity (i.e., high, medium, or
low), and a recommendation for dealing with the control
gap. Also, instead of just documenting the gaps, the team
also began remediating them whenever possible. As many
of the gaps were documentation related, remediation
frequently took the form of educating the control owners
in the evidentiary expectations of SOX-related documenta-
tion.
By mid-December 2003, the gap analysis had identified
1249 control activities and 265 gaps. Of these gaps, 172 were
related to documentation and none of them were classified
as high priority.
Self-assessment and test plan design
In order to support management’s assertion regarding the
effectiveness of internal controls, Trinity had to create a
self-assessment process that would increase accountability.
This process assigned and managed control owners for
every control at perpetuity.
The steering committee designed a process whereby
Control Certification Letters (or ‘Representative Letters’)
were automatically generated and mailed to each control
owner on a quarterly basis. These letters asserted that the
control owner was accountable for the effectiveness of the
internal control assigned to him/her. Depending on
22. reporting structures, these letters needed to be signed and
returned to the BU controllers, the Group CFO or the
internal audit department. This process was effective at
tracking changes in control ownership as it regularly
alerted Trinity if control ownership responsibilities had
not been reassigned as people left the company or changed
jobs, for instance.
As part of test planning, the steering committee oversaw
the classifications of control activities into A, B, and C
controls. ‘A’ controls were key or primary controls that
would always be tested for SOX compliance. ‘B’ controls
represented back-up controls that Trinity would rely on
when the primary controls failed. ‘C’ controls were controls
that were related, but not central, to SOX compliance. In
June 2004, Trinity’s 1573 control activities broke down as
shown in Table 7.
Control redesign to close gaps
In order to remediate the gaps identified, the documenta-
tion teams worked with Corporate, the BU controllers and
the Group CFOs to gain agreement on each gap, its impact
and mitigating control activities. Then they developed an
action plan for correcting each control gap. This plan
addressed what corrective action needed to be taken, who
was responsible for gap closure and when it was going to be
implemented. Gap closure was being monitored on an
ongoing basis by the steering committee that met weekly
during the course of 2004. Furthermore, gap closures would
be validated during the internal validation testing planned
for March to June 2004. By end of June 2004, all except
three of the 280 documentation gaps had been closed.
Training
The steering committee sponsored four levels of training:
23. (i) high-level guidance on SOX for senior executives, (ii)
training on COSO for the 50–70 controllers in Trinity, (iii)
SOX documentation training for the various documentation
teams, and (iv) control owner training.
This training phase was also a part of the change
management activities that most large-scale, organization-
wide projects require. However, Jake Farkas noted that
there was one key difference between a regulatory project
such as SOX compliance and an organizational process
improvement initiative like the Oracle and ASC projects:
since the former were compulsory, there was less need to
convince people of the urgency and necessity of a change.
Even though there was a considerable need to educate the
members of the organization, particularly control owners,
on the documentation and evidentiary requirements for
SOX, in contrast to the Oracle and ASC projects, Trinity did
Table 7 Control classification (2004)
Control classification Count
‘A’ controls 649
‘B’ controls 397
‘C’ controls 705
Unranked controls 70
The SOX compliance journey at Trinity Industries U Schultze
97
not feel the need to hire a full-time change management
consultant for the SOX project.
Monitor – test of control and/or control self-assessment
24. This project phase represented the internal audit phase of
the SOX compliance audit. Not only were the control
activities tested, but so was the self-assessment process. By
the end of June 2004, 1803 control activities had been tested
and 284 testing gaps were identified, of which 226 were
closed. The causes of these gaps were fairly evenly split
between issues of operating effectiveness and documen-
tation. Common testing gaps related to the lack of
maintenance of the SOX binders that had been created
for each control, insufficient evidence of timely reviews,
insufficient exercise of change controls, and a ‘check the
box’ mentality (rather than a fulfillment of the spirit of the
control). By the end of the year, 2440 controls had been
tested and 327 testing gaps had been identified.
Management assertion
Right from the beginning of the SOX compliance project,
Trinity had set a target for being in a position to complete
the management assertion by 30 June 2004, even though the
assertion was only due on 31 December 2004. This early
deadline would give Trinity an opportunity to fix any key
weaknesses identified during the course of preliminary
testing by the real deadline.
External auditor evaluation and attestation of internal controls
Even though the external auditor only started testing in
Q32004, the SOX steering committee included a represen-
tative from E&Y. Trinity thus had the benefit of E&Y’s
interpretation of the SOX legislation throughout their
decision-making. This was particularly important in light
of the fact that SOX provided little guidance and the public
accounting companies were developing the standards for
SOX compliance in an emergent fashion and by comparing
their standards of control effectiveness with their compe-
titors. For instance, when PwC announced that spread-
sheets needed to be password-protected in order to pass a
25. SOX audit, there was much consternation at Trinity until
E&Y took a clear stance on what they would deem an
effective spreadsheet control.
The results of E&Y’s external audit testing revealed no
material weaknesses, but 14 deficiencies.6
2005: year 2
With the first year of compliance successfully behind them,
the SOX project was moved into the audit organization,
which had grown under Don Collum’s leadership. It was
clear to Don and the SOX steering committee that there was
much room and need for improvement for their second
round of SOX assessment. While Trinity had adopted a ‘get
it done’ and ‘brute force’ attitude in the first year of
compliance, it was clear that their approach of document-
ing and testing ‘every control known to man’ was not going
to be feasible in the long term. Like so many other
companies, Trinity believed that they had ‘over-audited’
and ‘over-tested’ in order to avoid material weaknesses,
since ‘failure was not an option.’ Now, it was time to ‘step
back, look at it, and do a better job at risk profiling.’
In order to prepare Trinity for its second year of SOX
compliance, the steering committee focused on two
initiatives: (i) a top-down, risk-management approach to
testing, and (ii) the streamlining of controls across BUs.
Together these initiatives halved the number of SOX
control activities Trinity tested in 2005.
The risk management method to testing implied a shift
from a ‘shotgun’ to a ‘rifle’ approach. Trinity would not test
all controls but identify areas that were material and posed
a threat to the financial statements. Only significant
processes and major classes of transactions in these
26. processes would need to be audited for SOX. Trinity thus
sampled BUs that contributed at least 5% to Trinity’s
revenues or represented at least 5% of Trinity’s assets as per
the company’s consolidated financial statements. Only
control activities in significant processes in those BUs
would be tested.
One implication of this risk-oriented approach was that it
reduced the number of control activities designated as key
or ‘A’ controls in part because their definition focused more
on what risks these controls posed for material misstate-
ments of the company’s financial results. Furthermore, not
all ‘A’ controls would be tested every year, because they
might be located in BUs that were not significant enough to
be audited. Similarly, ‘C’ controls were no longer seen as
relevant for SOX compliance because the audit group did
not anticipate ever testing them for SOX. Nevertheless,
these ‘C’ controls could be maintained and tracked on the
SOX database if the BUs so wished. Some BUs saw symbolic
value in designating certain control activities ‘SOX controls’
as this made their enforcement easier.
The second year-2 initiative focused on process improve-
ment. The SOX steering committee created process
improvement teams and charged them with streamlining,
standardizing and automating the control activities for a
given process (e.g., inventory, AP, AR). Georgia Papageorge,
VP Finance and Accounting in the Freight Car Group, led
the inventory process improvement team. The team
consisted of about seven members and included represen-
tatives of the BUs, KPMG, and the internal audit group.
In order to streamline the inventory-related control
activities, the team analyzed each BU’s control documenta-
tion. They found considerable overlap and variability in the
way the controls were described. Most of the variability
27. arose from the different systems that were operating at the
BUs. A report that one BU relied on for its controls was not
available in another, for instance. Furthermore, the same
control activities might be worded differently, such as ‘the
BU controller reviews this, vs the accounting manager
reviews this, vs accounting personnel reviews this.’ In order
to standardize the controls, the process improvement team
abstracted the control description so that it was universal
enough to cover the control activities in the various
environments.
The team also looked for redundant control activities.
Some BUs relied on multiple controls to accomplish the
same objective. By looking across BUs, it was relatively easy
to identify these redundant control activities and to
determine best practices that could then be replicated
across BUs. Overall, this process improvement effort took
The SOX compliance journey at Trinity Industries U Schultze
98
about 3 months and reduced inventory controls by about
25%. Its biggest achievement was to bring consistency to
inventory controls such that each BU relied on the same
control despite operational differences related to unique
products and IT infrastructure.
A closer look at the inventory process of the Trinity Rail
Car group provides some detailed insights into the improve-
ment team’s work. A flowchart of the 2004 inventory
management process is presented in Figure 2. Table 8
provides the accompanying control matrix. The latter
highlights the overlap of control objectives within the
inventory process in this single LOB. For instance, controls
28. 3, 4, and 13 all dealt with the correct valuation and recording
of inventory. Furthermore, different plants relied on
different variations of control #14.
Figure 3 and Table 9, which show the inventory process
flowchart and control matrix for 2005, illustrate the
inventory improvement team’s efforts. In particular, the
controls were uniquely numbered and described in more
universal terms. However, as best practice controls were
applied to all plants, there was an initial increase in the
controls in Freight Car operations in 2005. Only after the
inventory team’s recommendations to eliminate some
controls were put into effect in 2006 (see Table 10 for
summary), did the Freight Car see a decrease in controls
maintained and tested. In 2007, as more plants were added
to the Freight Car group and more plants became signi-
ficant for SOX compliance, the number of controls main-
tained and tested went back up.
Table 11 highlights the number and breakdown in
controls maintained and tested in Freight Car between
2004 and 2007.
Internal testing in year 2 brought a new set of challenges
to light: Trinity’s IT group seemed unaware that SOX
compliance was a new reality and not a one-time effort.
Kasey Nash, a KPMG senior manager on the Trinity SOX
project, recounted the reaction from the IT group when
they came to test in 2005: ‘You’re back again? You mean we
still have to do this?’
SOX compliance had not been given the necessary
priority in the IT department and this led to the
identification of 48 gaps in IT control activities.7 These
gaps included privileged and programmer access rights for
core systems like BPCS and the on- and off-boarding of
29. Trinity employees, which included managing their access
rights to networks and applications. While the 48 gaps were
an improvement on the 20% error rate of IT controls
in 2004, it was September 2005 by the time they were
identified. This did not give the IT group much time to
remediate them. The IT environment was also challenging
due to its distributed nature. There was a corporate IT
group that was primarily responsible for infrastructure
technologies (e.g., networks, Internet, email), IT groups
within the BUs that supported business-specific applica-
tions, and IT support in Mexico and Europe. These
different control environments multiplied the controls that
needed to be maintained and tested. Furthermore, nine
applications (including Oracle, Peoplesoft, BPCS) plus the
network were in scope for SOX compliance.
In November 2005, Terri Wilson, Analyst in IT’s Strategic
Compliance Services, replaced the previous IT SOX
manager. Determined not to fail as it could cost her job,
Terri learned what she could about SOX compliance. She
became aware of ISACA8 in 2006. She subsequently joined
the organization, attended local chapter meetings regularly,
and even earned her CISA9 certification.
2006: year 3
While the first 2 years of SOX compliance had been guided
by a project management approach, it became increasingly
clear to Don Collum and other members of the steering
committee that Trinity needed to move beyond ‘the SOX
project’ and put in place a ‘governance process.’ This meant
that their language and mindset needed to change. The
controls needed to become so deeply embedded in Trinity’s
processes, that they were indistinguishable from people’s
sense of ‘good business practices.’ Thus the ‘SOX’ designa-
tion, for example, ‘SOX steering committee’ and ‘SOX
30. controls,’ was dropped and new labels such as ‘governance
steering committee’ and ‘financial controls’ emerged.
One of the controllers described life with SOX as follows:
You are audited constantly; you just have to have
perfection in your job. There is no room any more for
any sort of margin of error. We have to make sure that
our revenue recognition is accurate. We have to make
sure that we have controls and that people are doing
them. We work for a public company. We are audited
almost daily; so there is a little more pressure with
making sure that we have seasoned people in positions
who understand what they are doing. Or even if they are
not seasoned that they know the rules and follow them;
that they understand they are going to be audited
quarterly, monthly, daily. It is all about accountability.
Even though they acknowledge that SOX was ensuring that
they were doing what they ought to be doing anyway, the
controllers maintained that their SOX responsibilities
added at least 8–10 h a month to their workloads.10 The
extent of the additional work depended on the number of
controls they owned and the number of paper binders11
they needed to maintain. Indeed, Mike Mason, CFO for the
Construction, Energy and Marine Group, voiced his
frustration with an audit process that hampered organiza-
tional efficiency:
How do I change the audit process, not the control
process? Because I’ve done the control, it’s there, and it’s
available. The problem is now to explain to the auditors
that it’s done. Because they want it nice and neat, in a
stack of papers, and then ‘walk me through because I’ve
been out of school for a whopping 6 months and I don’t
31. understand your business.’ So I am just catering to the
audit side of the control.
In order to change group and BU controllers’ perception of
SOX, Don promised them that, ‘if you can show me a
control that we are doing solely because of SOX, I will let
you quit doing it. If there is no business reason to do it, quit
doing it.’ Don also stressed one of the key benefits of SOX
compliance, namely that they no longer had to spend time
The SOX compliance journey at Trinity Industries U Schultze
99
Figure 2 Flowchart of Trinity’s Freight Car inventory
management process (2004).
The SOX compliance journey at Trinity Industries U Schultze
100
T
a
b
le
8
C
o
n
tr
o
275. 104
assessing the reliability of their information, which allowed
them to spend more time on activities that required
judgment and estimation, such as warranties, taxes, and
inventory.
Trinity also started to benchmark their SOX processes
and controls with other companies in their industry to
identify additional opportunities for reducing their controls
and streamlining their SOX testing. Mike Mason explained
that they went to one of their peers to learn about their
system access control processes. He found that even
competing peer companies were open to sharing knowledge
around SOX because they saw no advantage to keeping
their SOX-related processes secret. A peer’s SOX failure was
not seen as a victory:
It just puts a fear factor, at least in the finance world, of
‘they got caught on something, maybe I’m going to get
caught on something.’ It’s almost like nobody wants
anybody to get into trouble for SOX, because that just
means we’re all going to get in trouble for something. It’s
almost like you want everybody to win and for everyone
to be doing SOX okay.
In IT, Terri Wilson led a control streamlining effort
similar to the one that the process improvement teams
had done in the BUs in the prior year. Her analysis
highlighted duplicate controls caused by inconsistent
numbering and wording. She also found that some controls
had multiple control owners. Her efforts reduced IT’s
controls from 92 to 39.
276. She also categorized the IT controls into a categorization
scheme that resembled COBIT,12 of which she was unaware
at the time (see Table 12 for the categories and control
samples). This process improvement effort led to not only a
reduction in IT controls, but also a reduction of IT control
gaps over time as Table 13 demonstrates.
2007: year 4
In the fourth year of SOX compliance, the number of
control activities tested stabilized. There was a general
sense among the members of the governance steering
committee that Trinity’s SOX control infrastructure was as
lean as it could be. Furthermore, they felt that their self-
assessment and change control processes were robust and
sustainable. For instance, they had established the following
change control procedure for SOX controls:
� When a BU wanted to make a change to a SOX control,
for example, replace a control owner, change the control
description, or replace a manual control with an
automated one, a change request was sent to the internal
audit group, where it was reviewed by the SOX Program
Manager, Rhonda Krasselt.
� Depending on the change, either Rhonda Krasselt or
Don Collum reviewed the change. They explained that
as long as a proposed control effectively met a necessary
control objective, they were likely to approve a con-
trol change. Once final approval had been granted by
Don, the change was forwarded to the SOX adminis-
trator, who maintained the SOX database, which tracked
all changes.
ap
p
310. d
ar
d
Se
m
i-
an
n
u
al
ly
The SOX compliance journey at Trinity Industries U Schultze
105
� Periodically, the governance steering committee was
informed about the SOX control changes that had been
made.
On average, about 1000 SOX changes were made every
6 months.
Changes to control activities were also made in response
to new business processes and gaps that had been identified
during testing. Rhonda Krasselt noted that, at times, it was
difficult to convince BU staff to document their controls.
They did not want to have to ‘sign off on more things’ and
311. were reluctant to give the audit department ‘more things to
gap them on.’ This sentiment seemed to express a ‘fear of
the gap.’
Increasingly, the governance steering committee got
involved in screening proposals for organizational change
initiatives such as system upgrades or process improve-
ments. This screening sought to identify the SOX implica-
tions of a proposed change, but it also sought to leverage
business-driven initiatives in order to improve Trinity’s
control environment. Thus, while it was difficult to make a
business case for implementing systems and process
changes for the purpose of reducing SOX compliance costs,
improvements that served more strategic objectives could
be used as a vehicle to achieve this goal. For instance, when
Trinity was planning to implement a new time reporting
system for payroll, the steering committee looked for ways
to improve the timesheet approval process and to store the
Figure 3 Flowchart of Trinity’s Freight Car inventory
management process (2005).
The SOX compliance journey at Trinity Industries U Schultze
106
approval information electronically without compromising
its auditability.
Pondering the next phase of the compliance journey
In early 2008, as Don Collum was getting ready for his
meeting with Jarrod Bassman, he mulled over the Trinity’s
SOX compliance journey, its victories and ongoing
challenges. There were numerous victories. Chief among
them was that their external auditor, E&Y, never identified
312. any material weaknesses in Trinity’s financial reporting
processes. Trinity also decreased the cost of SOX com-
pliance every year, even though the number of controls they
tested had stabilized. In addition, they developed a system
of accountability that clearly identified and tracked control
owners. They also implemented governance structures such
as the SOX steering committee, which was now actively
involved in monitoring any organizational change with
implications for Trinity’s internal controls. Any changes to
processes related to financial reporting were being mana-
ged. Lastly, there was a general acknowledgement in the
organization that internal controls made business sense and
that they were helpful to the organization. For instance,
they sustained disciplined operations and provided more
confidence in the data that various operational and
financial processes generated.
Nevertheless, there were questions about the next steps
in Trinity’s SOX compliance journey. How could they
continue to reduce the costs of compliance given that the
number of SOX controls they tested was as lean as was
possible given the company’s relatively decentralized IT
infrastructure? Many SOX controls were manual. Was it
time to invest in a company-wide, single-instance ERP
system, a strategy that many global manufacturing firms
had pursued? How could such an investment be justified?
Or were there ways of leveraging the information
technology that Trinity already had to automate some of
their many manual controls? For instance, BPCS was
increasingly marketed as an ERP system for manufacturing
organizations as it integrated cost accounting, planning,
distribution, and manufacturing functionality. However,
BPCS had not been implemented in a way that the
standardization of processes and centralization of controls
afforded by ERP systems could be leveraged. Not only
313. was Trinity running three different versions of the BPCS
software, they were also relying on different IT organi-
zations to support them. In addition, many BUs had
customized the software to produce the kind of output they
needed to calculate Cost of Sales, Overhead and Labor
Rates, among others, in their homegrown spreadsheets. In
other words, instead of automating the interface between
BPCS, which essentially served as a sub-ledger, and Oracle
Financials, Trinity’s general ledger, the BUs downloaded
customized data from BPCS, manipulated it in Excel and
then based their manual general ledger journal entries on
these spreadsheets. As a result, BPCS operated in seven
different control environments, which multiplied the
number of controls that needed to be developed, main-
tained, and tested.
In addition to standardizing processes and centralizing
controls by integrating systems, were there other strategies
that Trinity could rely on to further reduce the cost of SOX
compliance? For instance, could the hours internal auditors
spent on control testing be reduced? Were there ways in
which the cost of ‘catering to the audit side of the control’
could be decreased?
At the same time, there were questions about the
integrity of the control infrastructure as a whole. As Trinity
only tested A controls for SOX, was there a danger that B
controls, which were supposed to serve as back-ups to A
controls, would fail compliance tests? Furthermore, many
Figure 3 Continued.
The SOX compliance journey at Trinity Industries U Schultze
107
473. en
t
re
vi
ew
D
M
B
U
C
o
n
tr
o
ll
er
The SOX compliance journey at Trinity Industries U Schultze
109
of the A controls assumed that C controls were in place.
What if they were not? Without testing them periodically,
how could Trinity be assured that there were no weaknesses
in its control infrastructure?
Lastly, there was the question about the inevitable move
474. to the IFRS. Even though it was unclear when the Security
and Exchange Commission would require companies to
report their financials under the international standard
(deadlines ranging from 2011 to 2014 were rumored), it was
certain that public companies would have to embark on
another major compliance-motivated process and infor-
mation technology change in the near future. How well
prepared was Trinity for this change? How could the
governance, information technology, and process infra-
structures that had been developed as part of SOX
compliance be leveraged for this imminent transition?
In 2008, there was much discussion about the differences
between the US GAAP (Generally Accepted Accounting
Principles) and IFRS. The international standard was
frequently described as more principles-based than the
rule-based GAAP. For instance, US GAAP contained a
number of rules for classifying leases, whereas IFRS took a
more holistic approach to lease classification, relying on
accountants’ professional judgment to make a classification
based on the substance of a given lease agreement. As
principle-based frameworks make different interpretations
of similar transactions possible, transitioning to IFRS had
implications for an organization’s control activities. Given
that controls were designed to ensure compliance with
rules, a change in the underlying logic of lease classifica-
tion, for instance, was highlight likely to require adjust-
ments in a company’s control activities.
In addition, the experience of companies in regions of
the world that had already converted to IFRS (e.g., Europe,
Australasia, Latin America, and Africa), highlighted that the
implications of moving to the new accounting standard was
at least as great for companies’ information systems as it
was for their accounting practices and internal controls.
The need for new data, as well as changes in calculations
475. and reporting required by IFRS, would ultimately have to
be implemented in a company’s information systems. For
this reason, some estimated that over 50% of IFRS
conversion costs were related to IT.13
An example of the different ways in which US GAAP and
IFRS treat fixed assets illustrates the IT implications of
transitioning to the new accounting standard. Under GAAP,
the total cost of a building was capitalized and depreciated
over the life of the structure. The flow of information
for this transaction was as follows: the real estate system
fed the building cost to the fixed asset system, which
then calculated the depreciation and fed it to the general
ledger. In contrast, under IFRS, a building was decomposed
into different asset components, for example, building,
roof, fixtures, each of which was then depreciated over its
useful life, for example, 40 years for a building, 10 years for
a roof and so on. Thus, the real estate system would need to
track and allocate the building cost to different compo-
nents, and the fixed asset system would need to depreciate
assets at different rates. These information systems would
therefore not only need to accommodate new fields,
but also new calculations, as well as new system and user
interfaces.T
a
b
le
9
C
o
n
ti
n