2013년 11월 23일 토요일

About 'costing accounting notes'|... Budget Data Indicate That Estate Taxes Will Raise $28 Billion This Year, Accounting For 1.2 Percent Of Total Federal Revenues. However, If The Estate Tax...







About 'costing accounting notes'|... Budget Data Indicate That Estate Taxes Will Raise $28 Billion This Year, Accounting For 1.2 Percent Of Total Federal Revenues. However, If The Estate Tax...








Today's               small               businesses               need               to               stay               on               top               of               employment               laws.

One               of               the               recent               laws               that               is               of               concern               to               many               businesses               is               the               Sarbanes-Oxley               Whistleblower               Act.

This               act               requires               companies               to               provide               their               employees               with               the               tools               and               opportunity               to               report               unethical               and               unprofessional               situations               that               are               occurring               within               the               company               without               fear               of               being               fired               or               punished.

Noncompliance               with               this               law               can               cost               a               company               legal               fees,               fines,               and               it               can               devastate               their               public               image               costing               them               customers               and               revenue.

Small               businesses               can               reduce               the               chances               that               they               will               be               charged               with               a               violation               of               this               act               by               taking               a               few               simple               steps               to               improve               their               compliance               with               its               requirements.

How               to               Comply               with               the               Sarbanes-Oxley               Act
               There               are               five               steps               that               a               small               business               can               take               in               order               to               comply               with               the               requirements               under               the               Sarbanes-Oxley               Act.

The               first               step               is               to               adopt               a               policy               that               makes               it               easy               for               employees               to               report               potential               financial,               accounting,               ethical,               or               other               professional               issues               that               may               impact               the               functioning               of               the               company.

This               policy               will               need               to               outline               how               employees               should               report               problems,               and               whom               they               should               report               problems               to.
               After               developing               a               policy               that               creates               the               tools               needed               for               easy               reporting               of               professional               issues,               the               second               step               is               to               train               and               educate               the               company's               employees               on               how               to               use               the               policy.

This               will               include               training               managers               to               deliver               appropriate               responses               to               reports               of               misconduct               or               unprofessional               behaviors,               as               well               as               to               train               managers               and               employees               on               how               to               properly               communicate               what               is               going               on               in               the               company.

Lines               of               communication               for               processing               reports               related               to               unethical               or               unprofessional               conduct               also               need               to               be               established               and               managed               so               that               reports               are               processed               quickly               and               effectively.
               The               third               step               in               complying               with               the               Sarbanes-Oxley               Act               is               to               improve               the               management               of               employee               performance.

This               means               that               monitoring               and               dealing               with               employee               complaints               in               a               timely               manner               will               need               to               be               given               a               higher               priority               than               it               has               been               given               in               the               past.

Each               employee               report               needs               to               be               taken               seriously               and               it               needs               to               be               thoroughly               investigated.

This               will               not               only               help               to               intercept               smaller               issues,               but               it               will               also               help               to               identify               serious               organizational               problems               as               well.
               The               fourth               step               is               to               develop               effective               investigation               strategies               and               procedures.

When               an               employee               reports               an               unethical               or               unprofessional               conduct               problem,               the               manager               that               receives               the               report               needs               to               have               strict               guidelines               available               to               them               on               how               they               should               respond               to               the               report.

This               will               mean               creating               a               detailed               procedure               manual               that               outlines               how               the               investigation               needs               to               be               conducted,               what               company               personnel               need               to               be               involved,               how               evidence               is               to               be               gathered,               and               how               discipline               and               corrective               measures               need               to               be               assigned               to               fix               the               problem               as               quickly               as               possible.
               The               final               step               in               this               process               is               to               keep               accurate               and               complete               documentation               of               the               entire               process.

This               means               completing               physical               reports               of               oral               complaints,               keeping               written               transcripts               of               conversations               and               meetings               about               the               reported               problem,               any               notes               about               the               investigation               or               report               need               to               be               gathered               and               included               in               the               report's               file,               as               do               copies               of               evidence,               reports,               and               other               documentation               that               is               related               to               the               processing               of               the               report.

These               pieces               of               information               are               the               company's               evidence               that               they               did               everything               in               their               power               to               follow               the               requirements               of               the               SOX               Act,               and               they               can               also               be               used               to               support               their               position               if               they               ever               go               to               court               over               the               situation               that               was               reported.









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