Jul 20, 2017 Research papers

The changing interaction of finance, information, and technology

This paper concentrates on the primary theme of The changing interaction of finance, information, and technology in which you have to explain and evaluate its intricate aspects in detail. In addition to this, this paper has been reviewed and purchased by most of the students hence; it has been rated 4.8 points on the scale of 5 points. Besides, the price of this paper starts from £ 40. For more details and full access to the paper, please refer to the site.

Technology and Finances

INSTRUCTIONS:

Module 5 - Case

The changing interaction of finance, information, and technology

Assignment Overview

The circumstances of the creation and implementation of the Sarbanes-Oxley act are a matter of public record, and need no major review here. There is no shortage of information about the act and its implications thus far, and even less shortage of speculation about its future impacts and the way in which compliance with those rules will alter corporate culture, particularly in terms of how financial information is maintained and shared. In the case for this module, we consider certain aspects of the effects of Sarbanes-Oxley on IT management, now and in the future.

In 2004, [email protected] Wharton ( 2004) presented an analysis of the subject, A number of experts were cited, with widely varying views as indicated here by the following excerpts.

“I’m not sure Sarbanes-Oxley has had as much impact as the scandals themselves, which have made organizations want to avoid scandals in the future," says finance professor Marshall E. Blume. “Right after Enron I was talking to an oil company executive who told me, ‘We’re going to put everything in the annual report now.’”

Thomas W. Dunfee, professor of social responsibility in business, suggests that “it’s too soon to know in any detail the impact that the legislation is going to have. It’s like an artist’s rough preliminary sketch: A great deal of detail has to be filled in. What’s key is that Sarbanes-Oxley was a symbolic act and people are now watching. That’s probably as effective a way to get behavior changed as a lot of specific, more picayune rules.”

The case for this module asks for you to review information regarding the act, its purposes, its implementation, and its effects to date. A good place to begin is this Introduction to Sarbanes-Oxley. For or detailed consideration of impacts regarding information technology, the following sources provide you with a chronological account of SOX and IT:

Worthen B. (2005) Five Top IT Control Weaknesses. CIO Magazine. Retrieved Sept. 23, 2007 from http://www.cio.com/article/8097/_The_Top_Five_IT_Control_Weaknesses

Hoffman T. (2005) More Companies Tap IT for Sarbanes-Oxley. Computerworld. Retrieved Sept. 23, 2007 from http://www.computerworld.com/softwaretopics/software/story/0,10801,105463,00.html

Nash, K. (2007) Why, 5 Years After Sabanes-Oxley Became Law, IT Executives Are Better Off. Retrieved Feb. 24, 2008 fromhttp://www.cio.com/article/127851/Why_Five_Years_After_Sarbanes_Oxley_Became_Law_IT_Executives_Are_Better_Off/1

Cote, B. (2008) Failed Audit? Sarbanes-Oxley Compliance Journal. Retrieved Feb. 24, 2008 from http://www.s-ox.com/dsp_getFeaturesDetails.cfm?CID=2022

Nash, K. S., (2010) SOX Compliance: New Tool for Easier Audits. CIO Magazine. Retrieved from http://www.cio.com/article/593298/SOX_Compliance_New_Tool_for_Easier_Audits

Benner K. (2010) Is Sarbanes-Oxley a failure? Money.com. Retrieved from http://money.cnn.com/2010/03/23/news/economy/sarbanes_oxley.fortune/index.htm

Case Assignment

The background information also contains a number of resources regarding this act and its effects; you may also wish to conduct your own search and develop further information as appropriate. When you`ve had a chance to review all of this information and think about the problem to some degree, please prepare a short (4-6 page) paper on the topic:

The major things that IT managers will have to do differently when Sarbanes-Oxley becomes fully implemented and effective

In the course of your paper, please explicitly address among other points the question of what if anything the Sarbanes-Oxley mandate requires that isn`t already performed in any well-managed IT system; and try to conclude your paper with the definition of at least three of what you consider to be key open questions yet to be resolved about the impact of Sarbanes-Oxley on IT management.

Assignment Expectations

Use information from the modular background readings as well as any good quality resource you can find. Please cite all sources and provide a reference list at the end of your paper.

LENGTH: 4-6 pages typed and double-spaced.

The following items will be assessed in particular:

  1. Your ability to demonstrate your understanding of the Sarbanes-Oxley compliance requirements of IT managers;
  2. Some in-text references to modular background readings.
CONTENT:

Technology and Finances Name: Institution: Introduction When the Sarbanes-Oxley came into law, there were mixed reactions about its impacts on the corporate auditing and accounting spheres. Some of the reactions have lasted on till to date between the small, medium and large corporations, as well as among legislators and other interested parties such as investors. Other countries, such as, Canada, japan and Israel among others, have also tried to emulate the example and craft their own laws that safeguard the investors from scrupulous corporate officials. The law that is ideally referred to as Public Company Accounting Reform and Investor Protection Act, was enacted in 2002, and was proposed by Paul Sarbanes and Michael Oxley, both of whom have left congress. This came as a relieve for most investors after the corporate scenes was marred by quite a number of financial auditing scandals, gracing the 2000s.the law has also had its fair share of impacts on the IT managers over the years and will continue to do so in the future. Interaction of Sarbanes-Oxley Act of 2002 and the IT Managers The IT managers and the Chief Information Officers are the backbone of the technological applications in the firms and the data management operations. This means that they play one of the most crucial roles in financial matters of any firm. Given the role that technology plays in the business spheres, the IT managers are held to a higher standard with respec

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