Question

Prior to beginning work on this discussion forum, visit the The Sarbanes-Oxley Act 2002 (Links to an external site.) Search the Internet and locate an annual financial report for a public U.S. company. Read the “Notes” to the Financial Statements to determine the criteria for cash equivalent and how cash and cash equivalents are handled. In your initial post, you will discuss your findings. Find information about the internal control policy of the company and summarize this policy in your post. Is it in compliance with SOX? What are some references to SOX mentioned in the annual report? Your answer should demonstrate understanding of the Sarbanes-Oxley Act, and be a minimum of 200 to 200 words in length.

Answer 1

page 0 Answer: Company all and Consider as Cash Cash on diposit. a morturity date of This Cash equivelents highly lêquid investment with of 3 Months or less at the purchase and proceeds due from credit and debit card tranections with Settilment terms of up to I week. - Credit and dabit Card reciva bles were $1,245 and $1,883 at the end of 2015 and 2014 respectively. our management les responesible tour estabishing and mantring required Internal Contral over financial reporting and defined an Rule 13a=15(f) under Exchange Act. Our Internal Contral over finencial reporting & designed to prowide reasonable Assurance regarding the reliability of financial reporting and The preparation of financial statment al Extralnal purposes in accord withe wis GAAP and In cluding the policies and product such that

- page ③ pertain to the maintenance of record That in the resonable detail accurately and fairly reflect our transection and the dispositions of our Assete provide meaningful assurance that Our transaction are recorded as necessary 70 permit preparation of financial statments In accordance with Generally accepted accou ting prinicipals and that your respect and expenditure are being made only in accodar ance with appropriate authorization prouite resonable assurance regarding prevention or timely detection of unauthor' ized acquisition. use are disposition of our assets that could have a matireal efect on our finanical statement because of % Inherent limitations internal Contral over financial responding may not prevent or ditect mis statemats 1. Therefore even those systeenes determi nd to be effective to be efective can provide only reasonable assu va vane with respect to financial statement preparation and respresentation. “Sox"

LLL - page ② . We have taken a code of ethics for Sinior fronancial officers pursuant to section 406 of the Sarbanes "Oxley. Act. - The Sarbanes Oxley Act was Created in 2002 is to protect Investors from fraudulecent activities by Corporations Improved financial desclosures from Compration Sox was created mainly on response to the scandales in the early 2000's These sandals included Enron Tyco, and world com. *-