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Q 7.28: the cfo of blalock's industries is frustrated by the sarbanes-oxley act. he has had to hire an extra auditor and consultant to help analyze and detect fraudulent activities, and he feels like this might cost him more than it saves. what aspect of sox most bothers the cfo?

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W0lf93
The CFO thinks the resources necessary to follow all the requirements in the SOX act are excessive. The SOX act includes significant new governance standards and was signed into law in 2002 because of a few bad apples. Now Blalock Industries must pay the price.
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The aspects that almost all interfere with CFO are financial planning and recording, and financial reporting that has been cheated.

Further Explanation

The company is that the place of production activities and also the gathering of all factors of production. Every company is registered with the govt and a few don't seem to be. For companies registered with the govt, they need a business entity for the corporate. This business entity is that the status of the corporate officially registered with the govt.

Types of Companies

Type of company supported business field:

  • Extractive companies are companies engaged within the taking of natural resources
  • Agricultural companies are companies that employment by cultivating land/fields
  • Industrial companies are companies that produce raw and semi-finished goods into finished goods or increase their value
  • Trading companies are companies engaged in trading
  • The service company may be a company engaged within the service sector  

Type of company supported ownership:

  • State-owned companies are companies established and capitalized by the state
  • Cooperative companies are companies established and capitalized by their members
  • A private company may be a company that's founded and is funded by a gaggle of individuals from outside the corporate

CFO ("Chief Financial Officer") may be a position during a company primarily accountable for managing corporate financial risk. This official is additionally accountable for financial planning and record-keeping, further as financial reporting for higher management. In some sectors, the CFO is additionally accountable for data analysis. This position is akin to the director of finance, a general position within the uk. CFOs usually report back to the Chief officer and also the board of directors, and should additionally sit on the board.

Learn more

Definition of the corporate https://brainly.com/question/7251308

Types of Companies https://brainly.com/question/7251308

Definition of Chief Financial Officer https://brainly.com/question/7251308

Details

Grade: College

Subject: Business

keywords: Chief Financial Officer

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