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Full-Text Articles in Business
End-User Computing Applications, Mary C. Hill, W. Alan Barnes
End-User Computing Applications, Mary C. Hill, W. Alan Barnes
Faculty and Research Publications
Businesses today rely on the work being done by staff using personal computers. The proliferation of personal computers has led to widespread implementation of end-user computing applications. As their name implies, end-user applications are designed, implemented, and controlled by users rather than by IT professionals. End-user applications can be risky for organizations, both with respect to management decision making and to financial reporting. For public companies, the risk involved in these applications has been increased by the requirements of the Sarbanes-Oxley Act of 2002, which call for management to document end-to-end financial operations and internal control structures. This article review …
Audit Committee Material Weaknesses In Smaller Reporting Companies, Audrey A. Gramling, Dana R. Hermanson, Heather M. Hermanson
Audit Committee Material Weaknesses In Smaller Reporting Companies, Audrey A. Gramling, Dana R. Hermanson, Heather M. Hermanson
Faculty and Research Publications
One of the critical elements of internal control over financial reporting is an effectively functioning audit committee. The Sarbanes-Oxley Act of 2002 (SOX) defines an audit committee as " committee (or equivalent body) established by and amongst the board of directors of an issuer for the purpose of overseeing the accounting and financial reporting processes of the issuer and audits of the financial statements of the issuer." Recent SOX section 404 filings by smaller reporting companies ("nonaccelerated filers," or registrants with less than $75 million of public float), however, indicate that some small companies still are struggling to develop effective …
Coso: More Relevant Now Than Ever, Heather M. Hermanson
Coso: More Relevant Now Than Ever, Heather M. Hermanson
Faculty and Research Publications
In 1992 when the Committee of Sponsoring Organizations of the Treadway Commission (COSO) issued its internal control framework, few would have guessed that the framework would become an integral part of corporate accountability a decade later, but things are moving in that direction. COSO's framework may become an important tool for implementing the directives set forth in the Sarbanes-Oxley Act of 2002. With the newly mandated reporting on controls and other directives set forth in the Sarbanes-Oxley Act, the full effect of COSO's internal control vision may finally be realized. COSO's framework may help to address compliance with the new …