Answer: Internal control system are required by Sarbanes-Oxley (SOX) to be documented and certified if the company's stock is traded on an exchange (a public company).
Explanation:
Internal controls are the procedures mechanisms and rules implemented by a business to ensure the integrity of its accounting and financial information, promote accountability, and also prevent fraud.
Besides complying with regulations and law and hindering employees from commiting fraud or stealing assets, internal controls can improve operational efficiency through the improvement in the timeliness and accuracy of financial reporting.
Internal controls are a vital business function for every company in the United States since the accounting scandals that occurred in the early 2000s. The Sarbanes Act of 2002 was to improve accuracy of corporate disclosures and protect investors from fraudulent activities.
The three gorges dam is located in China
Liabilities are items owed to a creditor. Assets are items owned by a company. Stockholders' equity represents owners' claims to company resources.
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A Research Facility that specializes in experimental therapies for a condition called Laryngomalacia.
Primary Healthcare is your regular family medicine/pediatric doctor
Secondary is more complex problems where disciplines are brought together like hospitals
Tertiary is super specialized care that receives referrals from primary/secondary docs.
