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How has SOX affected top officers in a public company?
the chief executive officer (CEO) and chief financial officer (CFO) of each publicly traded company prepare a statement to certify the "appropriateness of the financial statements and disclosures
Who has to certify that the person hanged is dead?
A licensed Medical Doctor is required to certify date and time of death on the death certificate.
Who can be a certifying official?
A certifying official is typically someone in a position of authority, such as a supervisor or manager, who has been designated to verify and certify certain documents or information. In educational settings, certifying officials could also be financial aid officers or registrars.
What is the purposes of audit report?
A audit report is also known as a auditors report which is a document prepared by the auditors appointed to examine and certify the accounting records and financial position of a firm. It must be filed every year by an incorporated or registered firm (along with its audited financial statements) with the appropriate regulatory authority.
What is a financial responsible?
Financial responsibility filing is most often related to cars and insurance. It is something that a state will require, usually from the DMV, in order to certify that someone who is driving a vehicle will be able to pay future claims depending upon the states required limit.
What is a financial responsibility filing?
Financial responsibility filing is most often related to cars and insurance. It is something that a state will require, usually from the DMV, in order to certify that someone who is driving a vehicle will be able to pay future claims depending upon the states required limit.
Is it true A Certifying Officer Cannot be Ordered to Certify an Illegal or Improper Payment?
Yes, it is true that a certifying officer cannot be ordered to certify an illegal or improper payment. Certifying officers are responsible for ensuring that payments made by the government are lawful and comply with applicable regulations. If a payment is deemed illegal or improper, the certifying officer has a duty to refuse certification to uphold financial integrity and accountability.
Is State Bank of India officers are gazetted officers?
Yes, officers of the State Bank of India (SBI) are considered gazetted officers. This designation is typically granted to certain public sector employees who hold specific positions and have the authority to certify documents. As SBI is a public sector bank and its officers perform functions that include certifying various documents and acts, they are included in the gazetted officer category.
What is an audit expectation gap?
Expectations gap === The expectation gap is the gap between the auditors' actual standard of performance and the various public expectations of auditors' performance (as opposed to their required standard of performance). Many members of the public expect that:auditors should accept prime responsibility for the financial statements,auditors 'certify’ financial statements,a 'clean’ opinion guarantees the accuracy of financial statements,auditors perform a 100% check,auditors should give early warning about the possibility of business failure, andauditors are supposed to detect fraud (See Wisconsin Law Journal article entitled, "Why Didn't Our Auditors Find the Fraud?").Such public expectations of auditors, which go beyond the actual standard of performance by auditors, have led to the term 'expectation gap’. Above retrieved from Abrema http://www.abrema.net/abrema/expect_gap_g.html Viper1
What is a certifying odffcer's max level of pecuniary liability?
A certifying officer's maximum level of pecuniary liability is typically limited to the amount of funds they certify for payment or the amount of the obligation they authorize. This liability can arise if they certify a payment that is not legal or properly authorized, leading to potential financial losses. The specific limits can vary depending on the regulations governing the certifying officer's role and the agency's policies. It is important for certifying officers to adhere to proper procedures to mitigate any potential liability.
What does the Sarbanes-Oxley Act of 2002 require a chief financial officer to do?
The Sarbanes-Oxley Act of 2002 requires a chief financial officer (CFO) to personally certify the accuracy and completeness of financial reports submitted to the Securities and Exchange Commission (SEC). This includes ensuring that the financial statements are free of material misstatements and that the company has established adequate internal controls over financial reporting. Failure to comply can result in significant penalties, including fines and imprisonment. The act aims to enhance corporate governance and accountability in the wake of accounting scandals.
Where heavy transaction volume prevents the direct manual certification of every voucher Certifying Officers have the right to certify vouchers under blank by a statistical sampling procedure?
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