Sarbanes-Oxley For Dummies Second Edition 2nd Edition by Jill Gilbert Welytok (PDF)

Description

You may not believe that there’s a fun and easy way to comply with Sarbanes –Oxley, but once you have Sarbanes-Oxley For Dummies, Second Edition in front of you, you’re sure to change your mind. This friendly guide gets you quickly up to speed with the latest SOX legislation and shows you safe and effective ways to reduce compliance costs. In plain English, this completely reliable handbook walks you through the new and revised SOX laws, introduces compliance strategies for changed and unchanged guidelines, and gives you an effective framework for implementation You’ll find out how to create an efficient audit committee, purchase and use SOX software solutions, and make practical, cost-effective decisions in your initial compliance year and beyond. You’ll also find proven strategies for staying public or going private and learn how to deal with all those SOX forms. Discover how to:Establish SOX standards for IT professionalsMinimize compliance costs in every area of your companySurvive a section 404 auditAvoid litigation under SOXAnticipate future rules and trendsCreate a post-SOX paper trailBolster your company’s standing and reputationWork with SOX in a small businessMeet new SOX standardsBuild a board that can’t be boughtComply with all SOX management mandatesComplete with invaluable tips on how to form an effective audit committee, Sarbanes-Oxley For Dummies is the resource you need to keep your SOX clean.

User’s Reviews

Editorial Reviews: Review .,.”an informative read…” (“Accounting Technician,” May 2006)…”an informative read…” (“Accounting Technician,” May 2006) From the Inside Flap Includes SOX forms and privatization guidelinesThe fun and easy way to comply with the law and maintain your credibilityNeed to be Sarbanes-Oxley savvy? This plain-English guide walks you through the new and revised laws — as well as compliance strategies for changed and unchanged guidelines — and gives you an effective framework for implementation. You’ll create an efficient audit committee, purchase and use SOX software solutions, and make practical, cost-effective decisions in your initial compliance year and beyond.Discover how to:Establish SOX standards for IT professionalsMinimize compliance costs in every area of your companySurvive a Section 404 auditAvoid litigation under SOXAnticipate future rules and trends From the Back Cover Includes SOX forms and privatization guidelinesThe fun and easy way to comply with the law and maintain your credibilityNeed to be Sarbanes-Oxley savvy? This plain-English guide walks you through the new and revised laws — as well as compliance strategies for changed and unchanged guidelines — and gives you an effective framework for implementation. You’ll create an efficient audit committee, purchase and use SOX software solutions, and make practical, cost-effective decisions in your initial compliance year and beyond.Discover how to:Establish SOX standards for IT professionalsMinimize compliance costs in every area of your companySurvive a Section 404 auditAvoid litigation under SOXAnticipate future rules and trends About the Author Jill Gilbert Welytok, JD, CPA, LLM, practices in the areas of corporate, nonprofit law, and intellectual property. She is the founder of Absolute Technology Law Group, LLC (www.abtechlaw.com). She went to law school at DePaul University in Chicago, where she was on the Law Review, and she picked up a Masters Degree in Computer Science from Marquette University in Wisconsin, where she now lives. Ms. Welytok also has an LLM in Taxation from DePaul. She was formerly a tax consultant with the predecessor firm to Ernst & Young. She frequently speaks on nonprofit, corporate governance, and taxation issues and will probably come speak to your company or organization if you invite her. You may e-mail her with questions you have about Sarbanes-Oxley or anything else in this book at jwelytok@abtechlaw.com. You can find updates to this book and ongoing information about SOX developments at the author’s Web site, located at www.abtechlaw.com. Read more

Reviews from Amazon users which were colected at the time this book was published on the website:

⭐Sarbanes-Oxley (SOX) was signed into law by President George W. Bush on July 30, 2002 as a result of failures by Chief Executive Officers (CEOs) and Chief Financial Officers (CFOs) in reporting fair and accurate statements regarding their company’s financial status and activity. Investors base investment decisions on an accurate representation of those facts to understand a company, its soundness, and its opportunities.I have a very good friend who sold his company, one he built from scratch, to Bernie Ebbers, CEO of WorldCom. WorldCom’s false financial reporting and subsequent loss of US $100-billion to investors led to Ebbers to being convicted of fraud and conspiracy in 2005. And my friend lost both his company and his hard earned fortune.SOX was the antidote for fraud and failures like this which were rampant in the early 2000s, at the same time as the Dot.com crash. While the law was targeted to corruption in public companies, its net also included small and not-for-profit companies, who had to adopt the same standards as better financed larger companies. SOX is frequently blamed for the lackluster IPO market for emerging growth companies. These companies, which are typically cash negative, must now spend months and $3-5 million to become eligible for being traded on most public markets.”Sarbanes-Oxley for Dummies” was written by author Jill Welytok, JD, CPA to help us understand the history of the legislation, its intent, and how to implement it in a way to curb costs without losing the required controls. Welytok practices in the areas of corporate, non-profit law, and intellectual property. Her cheat sheet outlines the key take-aways of the book. Her advice includes how to:1. Form an audit committee.2. Avoid paranoia with regards to Section 404 by using the guidance she gives on to control costs without cutting controls.3. Prevent whistleblower complaints from becoming lawsuits.4. Keep a lid on insurance premiums with cost effective SOX compliance.5. Be credible when raising capital. Documenting Sox compliance with relevant aspects of the law shows creditors and donors that your company operates in an ethical, controlled environment and that its future growth is a good bet.6. Develop and deal with real financial data for making decisions. Financial data cannot be speculative and financial procedures can’t be ambiguous.7. Figure out if SAS 70 applies to your company.8. Communicate about control. When a company experiences a breach of ethics and internal control, it’s important to be able to trace the company communications see where breakdown occurred. This book provides tools and checklist to test communications as well as other types of control.9. Prepare management for new levels of liability. Sox places more responsibility and potential liability on management teams. Executives need to understand they cannot delegate control to others.10. Adopt a code of ethics and mean it.In the last two sections (Part VI and the appendix), Author Welytok provides “The Part of Tens – 10 ways to avoid getting sued or criminally prosecuted under Sox; 10 tips for an effective audit committee; 10 smart management moves; 10 things you cannot ask an auditor to do after Sox, and 10 places to get smart about SOX” – and some very helpful tools – the entire Sarbanes-Oxley law; sample certifications; sample audit committee charters; sample audit committee reports, sample corporate governance principles; a sample code of ethics; and a sample SAS 70 report.The reader trying to familiarize him or herself with SOX will find “Sarbanes-Oxley for Dummies” a good buy as this is good place to begin.

⭐Imagine being hired as a Sr. Auditor for a small company in a newly created department. As you can assume, I had to learn the nature of this type of exam activity and quickly. This book allowed me to have a general understanding of what is expected and exactly what Sarbanes-Oxley means for our company. The guidance provided within this book is a starting point but you must do your research. If you have the opportunity to sit down with a mentor or someone who has actually gone through an audit, coupled with this book you will be successful.

⭐Book was very, very helpful in recognizing fraudulent actions within nonprofit entities. This book is a reference source to keep and use.

⭐This book is very informative and very fun to read!

⭐everything went good

⭐Needed more technical details for the IT folks. But a good primer.

⭐Quick and good intro to SOX.

⭐Sarbanes-Oxley For Dummies:I read this book when I exactly needed, I was able to answer the questions that my boss asked for and completed our Sox testing for 2013!

⭐I purchased this for my wife who within her job takes on many varied roles with her being a contract business analyst, a current project required a very fast introduction to the Sarbanes-Oxley system etc. She is a through / fast reader and seems to have taken on this book in enough detail to quickly become knowledgeable enough in the subject to be able to sensibly input and understand discussion on the subject. She has not commented against the book in any way, and I am assuming no news means it was good, she is not slow in discussing failings, constructively, should things not be up to the task.Why this book when there are so many? The Dummies books in the past do deliver semi instant knowledge, and although they are not always the best in a given subject, when you want a book fast without being able to flick through the pages, they normally come up with the goods.

⭐I don’t usually read the ‘Dummies’ series, as I expect them to be too simplistic.I purchased this book as requested by my Company – and it’s brilliant! I already knew the background to the subject, but the way this is cleverly written; really informs the readers’ understanding of why we do what we do with regards to SOx.Extremely informative at more depth than I would ever imagine!(Also a BARGAIN, at the price!)

⭐Heavy on the history and general outline of case studies. Very light on actual practical detail of what changes would be needed in a company’s business processes “on the ground”. Some detailed worked examples here would have been so useful.

⭐Handy guide to get overview on this subject

⭐Boring – but then I never bought it for the interest value. Good bite sized pieces and handy for work

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