As enterprise accounts and raising the transparency preciseness of financial report in purpose, ideal way and the audit system of are reformed drastically, responsibility of the enterprise manager for the investor and the American Federal law which decides the obligation penal regulations.
From the nineties end such as incident and world COM incident betting on 2000 age beginnings, in order to cope with the illegitimate accounting problem which occurs frequently being something which is enacted, it was approved in 2002 July with president signature as law. Federal bond method 1933, ever since stock exchange laws fixed 1934, it is called the biggest modification.
Formally "Public Company Accounting Reform and Investor Protection Act of 2002: You call presentation enterprise accounting reform and investor protective bill, "Bence pole sir which submits the bill with joint signature (Paul Sarbanes) Senator, Michael G (Michael G.Oxley) being associated with the name of Congressperson, you are called" Bence sir method ". Among US "enterprise reformation method" and mind there is many also a thing which is translated.
All the to be constituted from the text of chapters 69 11, open corporation accounting supervisory commission (PCAOB: Public Company Accounting Oversight Board) independence of the installation and auditor,regulationand the protection etc.of thewhistle-blower for penal regulations strengthening and the security analyst etc. for the irregularities due to the expansion of financial affairs disclosure, the obligation and the manager of internal control are stipulated.
The same method is applied besides the fact that the American open enterprise and that connected object subsidiary company become the adaptation object, foreign enterprise being, when it does stock release in the American each security market, as a general rule.
As for especially being observed 404th provision. This SEC(the Americanbond transaction member) to requests the fact that the certificate and the signature which "guarantee" untruth and the disclosure of effectiveness appraisal of the thing internal control which "is not a statement leak" etc. are attached from the document which is submitted vis-a-vis CEO and CFO. When there is an untruth, the harsh criminal punishment, where it is decided that private responsibility is questioned, imprisonment punishment of the fine or 5 - 20 years as penal regulations is provided.
In addition in order to guarantee the transparency of financial report, each data inside the enterprise which becomes the foundation, including business process, clarifying and also documenting is required. It isnecessaryto be designed in such a way that this ERP and accounting system such as development of information system itself and the system/maintenance/and, including the trust contract method to rule and management and the external IT bender of access authority to the system even in the business process such as use, being fair, can be accomplished by clear procedure, can prove that.
However, as for SOX method burden increase of enterprise such as office work cost and audit charge is pointed out from enforcement beginning, is a direction of the second look e.g., the guideline where SEC eases the application of internal control rule is published to 2006 December.
Furthermore even in US financial products transaction method is formed in 2006 June,has meantto be applied from 2008 April also the indian edition SOX method in regard to the provision which is said. |
