How Has the Sarbanes-Oxley Act of 2002 Affected the Practices

question 44

Essay

How has the Sarbanes-Oxley Act of 2002 affected the practices of not-for-profit and governmental organizations?
Why have these provisions been adopted?

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Definitions:

Exchange Rates

The rate at which one currency can be exchanged for another, influencing international trade and investments.

Functional Currency

The primary currency of operation chosen by a business, usually the local currency where the business primarily generates and spends cash.

Income Statement

A report detailing a business's income and expenditures throughout a given time frame, which ultimately reveals a profit or deficit.

Sales

The exchange of goods or services for money, representing revenue for a company.