Scenario:
You have recently obtained a new position as a manager of an international accounting firm, Smith, Lindsey, and Lueders, CPA (SLL). SLL is primarily an auditing firm. Part of your duties will be to analyze the current state of accounting with an emphasis on the international environment. An additional responsibility is that you are in charge of training the new hires for the year. The advantage of having these two responsibilities is that you can use the information gained in your accounting analysis to train your new hires.
Need 500 to 800 words.
The new hires will be involved in gathering corporate information for audits. Part of the requirements for this are that they make decisions on corporate responsibility based on regulations. Because of this, they need to have a basic understanding of the regulatory history of accounting and corporations. Write a paper discussing the following:
Q1. Discuss the 2 regulations you feel are arguably the least effective and why you think so.
Q2. Given the economic decline of 2008, would you advocate expanding SOX, or would you come up with a whole new set of regulations? Support your opinion with at least 2 pieces of evidence cited.