The And Exchange Commission s Mission Essay - 1064 Words

The Securities and Exchange Commission’s mission is to â€Å"protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.† The purpose of this paper is to examine three recent federal security laws to see if they uphold all parts of the SEC’s mission. The three laws to examine are Sarbanes Oxley Act (2002); Emergency Economic Recovery Stabilization Act (2008); and Dodd Frank Wall Street Reform and Consumer Protection Act (2010). The Sarbanes Oxley Act (2002) passed after the Enron fiasco of the early 21st century. Enron was able to trick investors by using Special Purpose Entities which was allowed through GAAP standards, but nonetheless failed to reveal the potential risks to the investors looking at its financial records. â€Å"Enron s executives had in fact fraudulently reported profits, but not debts, inflating its stock value and enabling it to obtain some capital from ignorant financial institutions and ot her investors.† (Kaal, 2016) Therefore, the passing of the SOX Act provided two main points, the Public Company Accounting Oversight Board and Title IV. PCAOB holds public accounting firms accountable. PCAOB works in conduction with other CPA organizations, but it holds the ultimate authority over CPA organizations. Title IV requires the full disclosure for any Special Purpose Entities and the impact that they might have. Also pro forma calculations, figures based on future events that might occur, and personal loans toShow MoreRelatedAsus Asignment1085 Words   |  5 PagesASUS https://www.asus.com INTRODUCTION: ASUS, Taiwanese multinational company blessed with one of the world s top Ramp;D teams, is well known for high-quality and innovative technology. As a leading provider of 3C (computers, communications and consumer electronics) total solutions, ASUS offers a complete product portfolio to compete in the new millennium. Corporate Vision: Imagine innovations that simplify our customers’ lives andRead MoreManagement Planning: Worldcom Essay1253 Words   |  6 Pagesintegration, WorldCom liberally applied accounting procedures (Moberg and Romar 2003). In addition, WorldCom high level management intentionally falsified financial reports and declared fraudulent stock data to the United States Securities and Exchange Commission. These acts were a violation of the Securities Act of 1933. The objectives of the Securities Act of 1933 are that investors obtain accurate reports of a companys commerce and to prevent misleading securities sales (USSEC, 2007). Although, theRead MoreInternal And External Environments Of Trinidad And Tobago Electricity Commission Essay1521 Words   |  7 Pagesanalyse the internal and external environments of Trinidad and Tobago Electricity Commission (TTEC), by examining different strategic options and select the best suited to the organisation long-term strategy. This wi ll be accomplished by an evaluation of SWOT analyses, PESTEL framework and the Ansoff Matrix, offering why the option selected is the best fit option. â€Æ' 1.1 Background Trinidad and Tobago Electricity Commission (TTEC) is state owned and regulated and is by law, the sole retailer of electricRead MoreStrategic Management And Strategic Competition1596 Words   |  7 PagesStrategic Management and Strategic Competition Introduction The Microsoft Corporation is a publicly traded company. It was founded in 1975 and prides itself as a leader in software and product solutions for individuals and businesses. Their mission and vision is to be a go-to source for everyone globally, and to be able to consistently produce platforms and products superior to the competition. Their comprehensive line-up makes them a very competitive business in the market, and one that can partnerRead MoreThe Three Branches Of The Government1298 Words   |  6 Pagesenforcement and administration of federal laws. Each member chosen leads one of the fifteen executive department. They are also joined by Environmental Protection Agency and the CIA even though their heads are not part of Cabinet. More than fifty federal commissions heads are chosen my the President as well. Under the Executive branch are many departments. Some of these include the Department of Agriculture, the Department of Commerce, the Department of Defense, the Department of Education, the Department ofRead MoreAccounting: the Financial Accounting Standards Board (Fasb)1158 Words   |  5 Pagesprinciples (GAAP) within the United States in the public s interest. The Securities and Exchange Commission (SEC) designated the FASB as the organization responsible for setting accounting standards for public companies in the U.S. It was created in 1973, replacing the Accounting Principles Board and the Committee on Accounting Procedure of the American Institute of Certified Public Accountants. The Financial Accounting Standards Board s mission is to establish and improve standards of financial accountingRead MoreEthics and Compliance1643 Words   |  7 Pagesassess the role of ethics in the financial department and describe the procedures the company has to encourage ethical behavior. Next, explain the role financial markets in the United States. Followed by how Lowe’s complies with Securities and Exchange Commission (SEC) regulations. Lastly, prov ide an evaluation of the company’s financial performance last two annual periods, followed by the calculations of ratios for each year. The ratios include current, debt, return on equity, and days receivable alongRead MoreEthical and Legal Obligations Paper880 Words   |  4 Pagesand the appearance of improper behavior. Ethical business conduct calls for all companies and their personnel to assume responsibility for safeguarding and preserving that companys assets and resources in the fulfillment of that companys charter, mission or objective. The code of business conduct and ethics serves to emphasize the commitment to ethics and compliance with the law; to set forth basic standards of ethical and legal behavior; to provide reporting mechanisms for known or suspected ethicalRead MoreThe Inborn Names Of The Morongo Reservation1437 Words   |  6 Pagestribe began a small bingo venture in 1983. On February 25, 1987, the U.S. Supreme Court decided that neither the state of California nor Riverside County could control the bingo and card game maneuvers of the Cabazon Band of Mission Indians and the Morongo Band of Cahuilla Mission Indians. This court ruling, known as the Cabazon decision, set in motion a sequence of federal and state actions, including two ballot proposals that histrionically expanded tribal casino operations in California and otherRead MoreA Brief Summary On Forex Trading Essay1228 Words   |  5 Pages FOREX TRADING â€Å"A failure to plan, is a plan to fail† 1. EXECUTIVE SUMMARY 1.1 Brief summary of the business The word FOREX is derived from Foreign Exchange. Forex trades (trading onboard internet platforms) are non-delivery trades. Currencies are not physically traded, but rather there are currency contracts which are agreed upon and performed online. Both parties to such contracts (the trader and the trading platform) undertake to fulfill their