How internal auditing contributes to the effectiveness

Assignment Help Accounting Basics

Reference no: EM132002461

Question: The Sarbanes-Oxley (SOX) Act of 2002 was enacted to strengthen corporate governance. The audit committee was one of the essential requirements of the Act. Complete the following for this assignment:

1. Explain the responsibilities of the audit committee and its effect in preventing fraudulent financial reporting.

• Financial accuracy

• Risk management

• Control assessment

• External auditor oversight

• Efficient use of internal audit

2. Explain how internal auditing contributes to the effectiveness of the purpose and goals of the Sarbanes-Oxley Act.

Reference no: EM132002461

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