IT Security & Sarbanes-Oxley Act Term Paper Example | Topics and Well Written Essays - 1250 words - 1

IT Security & Sarbanes-Oxley Act - Term Paper Example Because of the original intention and the mandate of the Act, financial accuracy must be certified by the management concerned. Because of the provisions of the Same Act, the penalties for financial fraud have been made more severe. Similarly, the Sarbanes-Oxley Act of 2002 strengthened the autonomy of external auditors who analyze and reexamine the accuracy of corporate statements of accounts and also bolstered the oversight function of the board of directors. Simon, Smalley, and Schultz (2009) divulge that the Sarbanes-Oxley Act of 2002 comes against the backdrop of serious corporate and accounting scandals such as the Enron, Adelphia, Tyco International, WorldCom and Peregrine Systems Scandals. These scandals had cost investors billions of dollars, following the collapse of the affected companies share prices. These scandals, together with their serious effects weakened public confidence in Americas security markets. The Act comprises 11 sections which range from criminal penalties to additional corporate board responsibilities. The Sarbanes-Oxley Act of 2002 demands that the Securities and Exchange Commission implements rulings on prerequisites to compliance with the law. One of the ways the Sarbanes-Oxley Act of 2002 effects and constraints IT security section 404 compliance is by emphasizing a comprehensive understanding of internal controls, as a set of an enterprise's internal procedures, providing reasonable assurances that the enterprise will meet its target in all the specified areas. This is the case since Section 404 Compliance extends emphasis on not just historical financial reporting, but on internal controls also. Together with the rules spelled out in the SEC, there is a requirement that public companies' management should assess and report periodically, on the effectiveness of internal controls on financial reporting.

Millennium Development Goals (MDGs) Essay Example | Topics and Well Written Essays - 1500 words - 1

Millennium Development Goals (MDGs) - Essay Example The Millennium Development Goals refer to a set of eight goals that were established in the Millennium Summit of the year 2000. Member countries, totaling 189 at that time, adopted a declaration called the United Nations Millennium Declaration. International organizations, about 23 in number, were also present in the summit and pledged commitment toward the realization of the goals. The eight goals, which were established at the summit, are to eradicate extreme cases of poverty and hunger, to achieve universal primary education, to promote gender equality and empower women, to reduce child mortality and to improve maternal health, to fight HIV/AIDS, malaria, and other diseases. Others include to ensure environmental sustainability, and finally to develop a global partnership for development. The goals were established to tackle specific areas that were of general concern across member countries. The MDGs were designed in such a way that each goal is inter-dependent of the other. This is to say that the MDGs are linked together in such a way that one influences the progress and achievement of the other. The design of the MDGs is that all eight have a health nature in it, that is, all influence health, and health, on the other hand, influences them. For instance, promoting gender equality is paramount in the realization of better health. Reducing extreme poverty and hunger influences health. Healthy children are able to learn while healthy adults are able to work and earn a better living.