FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W161359781> ?p ?o ?g. }

• W161359781 startingPage "43" @default.
• W161359781 abstract "EXECUTIVE SUMMARY * THE NONAUDIT SERVICES Sarbanes-Oxley prohibits CPAs from providing to their public company audit clients are bookkeeping or services related to the accounting records or financial statements of the client; financial information systems design and implementation; appraisal or valuation services, fairness opinions or contribution-in-kind reports; actuarial services; internal audit outsourcing services; management functions or human resources; broker/dealer, investment adviser or investment banking services; and legal and expert services unrelated to the audit. * REGIONAL FIRMS CAN CONTINUE TO CROSS-SELL nonaudit services--just not to the public companies they audit. Mid-size firms will have a better chance to sell their consulting services now that all firms are proscribed from offering specific nonaudit services to audited public clients, some say. * SOME CPAs HAD BEEN EFFECTIVELY SHUT out from marketing nonaudit services to publicly traded companies because the larger national accounting firms charged significantly lower audit fees. Now that cross-selling is prohibited, small firms are in a position to credibly pitch nonaudit services. * MANY FIRMS ARE PROVIDING CONSULTING services to clients on the consequences of Sarbanes-Oxley, adding more service specialties, increasing marketing budgets, dividing marketing between two staffs, adding marketing staff and hiring marketing directors to oversee their sales efforts. * TO PURSUE AUDIT AND NONAUDIT MARKETING, a firm will need to analyze its client base, restructure the firm to effect the best provision of services and then market services according to each client's primary needs balanced against what's most profitable for the firm. CPAs should work out the decision together with their clients. * BECAUSE AN INDIVIDUAL FIRM NO LONGER CAN serve as both the internal and outside auditor for a public company client, one CPA says it benefits his firm if a major competitor wins the work it loses. It effectively prevents that competitor from seeking a significant portion of work the firm wants and ensures that the internal auditor's work is top quality. The auditor independence rules mandated by passage of the Sarbanes-Oxley Act in August 2002 are a double-edged sword for regional CPA firms. No longer able to use audit engagements as an opportunity to spot client needs and sell remedial consulting services such as internal controls tune-ups, information technology, actuarial research or human resources management, many multiservice, midsize firms must change their marketing plans. To avoid sacrificing the considerable investment they made to become versatile business services providers, most still will sell nonattest services--just not to the public company clients they audit. What these firms aren't doing is exiting one service market to focus on another--the strategy the largest firms have been forced to use. Here's how some midsize firms are adapting to the law's strict cleaving of audit and nonaudit services. BRAVE NEW WORLD Sarbanes-Oxley is the most major overhaul of federal securities regulation since the Securities Exchange Act of 1934. By founding the Public Company Accounting Oversight Board, the legislation creates a system for federal oversight of public auditors. It also mandates new disclosure requirements for public companies and harsher civil penalties for individuals and firms convicted of accounting or reporting violations. The act's prohibition against CPAs' performing any of eight nonaudit services for the public companies they audit is the biggest challenge to accounting firms. Those services are * Bookkeeping or other services related to the accounting records or financial statements of the audit client. * Financial information systems design and implementation consulting. * Appraisal or valuation services, fairness opinions or contribution-in-kind reports. …" @default.
• W161359781 created "2016-06-24" @default.
• W161359781 creator A5016081152 @default.
• W161359781 date "2003-02-01" @default.
• W161359781 modified "2023-09-23" @default.
• W161359781 title "Period of Adjustment: CPAs Are Finding Ways to Put Auditing and Consulting on Different Sides of the Conflict-of-Interest Dividing Line" @default.
• W161359781 hasPublicationYear "2003" @default.
• W161359781 type Work @default.
• W161359781 sameAs 161359781 @default.
• W161359781 citedByCount "0" @default.
• W161359781 crossrefType "journal-article" @default.
• W161359781 hasAuthorship W161359781A5016081152 @default.
• W161359781 hasConcept C10138342 @default.
• W161359781 hasConcept C121955636 @default.
• W161359781 hasConcept C139043278 @default.
• W161359781 hasConcept C144133560 @default.
• W161359781 hasConcept C162853370 @default.
• W161359781 hasConcept C170856484 @default.
• W161359781 hasConcept C191602146 @default.
• W161359781 hasConcept C199521495 @default.
• W161359781 hasConceptScore W161359781C10138342 @default.
• W161359781 hasConceptScore W161359781C121955636 @default.
• W161359781 hasConceptScore W161359781C139043278 @default.
• W161359781 hasConceptScore W161359781C144133560 @default.
• W161359781 hasConceptScore W161359781C162853370 @default.
• W161359781 hasConceptScore W161359781C170856484 @default.
• W161359781 hasConceptScore W161359781C191602146 @default.
• W161359781 hasConceptScore W161359781C199521495 @default.
• W161359781 hasIssue "2" @default.
• W161359781 hasLocation W1613597811 @default.
• W161359781 hasOpenAccess W161359781 @default.
• W161359781 hasPrimaryLocation W1613597811 @default.
• W161359781 hasRelatedWork W108015716 @default.
• W161359781 hasRelatedWork W144034666 @default.
• W161359781 hasRelatedWork W149664433 @default.
• W161359781 hasRelatedWork W1594774475 @default.
• W161359781 hasRelatedWork W181186716 @default.
• W161359781 hasRelatedWork W189391133 @default.
• W161359781 hasRelatedWork W190960350 @default.
• W161359781 hasRelatedWork W2052350468 @default.
• W161359781 hasRelatedWork W2127751169 @default.
• W161359781 hasRelatedWork W2146088373 @default.
• W161359781 hasRelatedWork W2274698129 @default.
• W161359781 hasRelatedWork W238664435 @default.
• W161359781 hasRelatedWork W2586312744 @default.
• W161359781 hasRelatedWork W28215755 @default.
• W161359781 hasRelatedWork W282602567 @default.
• W161359781 hasRelatedWork W289865695 @default.
• W161359781 hasRelatedWork W30240324 @default.
• W161359781 hasRelatedWork W30274134 @default.
• W161359781 hasRelatedWork W45681020 @default.
• W161359781 hasRelatedWork W58092816 @default.
• W161359781 hasVolume "195" @default.
• W161359781 isParatext "false" @default.
• W161359781 isRetracted "false" @default.
• W161359781 magId "161359781" @default.
• W161359781 workType "article" @default.