Made available in DSpace on 2015-12-03T18:35:35Z (GMT). No. of bitstreams: 1 Junior_Cesar_Rodrigues_de_Castro.pdf: 859787 bytes, checksum: cf5024fc1b06c1d588040ee78e0d148e (MD5) Previous issue date: 2009-09-01 / This dissertation subject is related to the study of teacher's perception in accounting towards the fulfillment of the audit services attributes after the limitations foreseen by the legal instruments Instruction CVM n? 308/99 and Sarbanes-Oxley about the consulting services. The study main goal is to check the Audit teacher's perception of 14 Academic Masters Programs if the limitations foreseen by the legal instruments Instruction CVM n? 308/99 and Sarbanes-Oxley about the consulting services provided improvement to the fulfillment of the audit services attributes. At first we make a bibliographic review, that is, collecting the main subject concepts and historic in an epigraph. The operational part of the study relates the concepts and main consulting services provided by Big Four in Brazil. After that, talks about the two legal instruments that limited the audit companies acting about providing, at the same time, audit and consulting services to the same client. In Brazil, this limitation was regulated in 1999, when the Instruction CVM n? 308/99 was edited and, in 2002, an akin conduct was adopted in the USA in the promulgation of the Law Sarbanes-Oxley. The text emphasizes the importance of these two legal instruments that contributed to separate the external audit services from the consulting ones, besides becoming a possible way to separate and minimize the margin of interest conflicts between the parts and provide improvement to the fulfillment of the audit services attributes. For the study conclusion, a questionnaire has been answered by the Audit teachers of 14 Academic Masters Programs, in private and public universities, in order to measure their perception about the subject. And we testified that 92% of those teachers who answered the questionnaire agree with the fact that providing the audit and consulting services at the same time to the same client may contribute to the impairment of the attributes in audit, like the independency, the goals and the technical and professional competency. / O tema desta disserta????o est?? relacionado ao estudo da percep????o dos professores em contabilidade quanto ao cumprimento dos atributos dos servi??os de auditoria ap??s as limita????es previstas pelos instrumentos legais Instru????o CVM n?? 308/99 e Sarbanes-Oxley sobre os servi??os de consultoria. O objetivo do estudo ?? verificar a percep????o dos professores da disciplina e/ou ??rea de Auditoria de 14 Programas de Mestrado Acad??mico se as limita????es previstas pelos instrumentos legais Instru????o CVM n?? 308/99 e Sarbanes-Oxley sobre os servi??os de consultoria trouxeram melhoria para o cumprimento dos atributos dos servi??os de auditoria. Inicialmente faz-se uma revis??o bibliogr??fica, ou seja, coleta dos principais conceitos e hist??ricos do assunto em ep??grafe. A parte operacional do estudo relata sobre os conceitos e principais servi??os de consultoria prestados pelas Big Four no Brasil. Trata, em seguida, dos dois instrumentos legais que limitaram o meio de atua????o das empresas de auditoria em prestar concomitantemente, os servi??os de auditoria e consultoria ao mesmo cliente. No Brasil esta limita????o foi regulamentada em 1999, quando editou a Instru????o CVM n?? 308/99 e, em 2002, semelhante medida foi adotada nos EUA quando da promulga????o da Lei Sarbanes-Oxley. O texto enfatiza a import??ncia desses dois instrumentos legais, que contribu??ram para separar os servi??os de auditoria externa dos servi??os de consultoria, al??m de se tornarem um meio poss??vel de distanciamento e minimiza????o das margens de conflitos de interesse entre as partes, e trazerem melhoria para o cumprimento dos atributos dos servi??os de auditoria. Para a conclus??o do estudo, aplicou-se um question??rio aos professores da disciplina e/ou ??rea de Auditoria de 14 Programas de Mestrado Acad??mico em institui????es de ensino superior, p??blicas e privadas, para medir sua percep????o sobre o assunto, e constatou-se que 92% dos respondentes concordam com o fato de que a presta????o simult??nea dos servi??os de auditoria e consultoria a um mesmo cliente pode dar margens para o enfraquecimento dos atributos em auditoria, como por exemplo, a independ??ncia, os objetivos e a compet??ncia t??cnico-profissional.

Made available in DSpace on 2015-12-04T11:45:36Z (GMT). No. of bitstreams: 1 Jose_Carlos_Penha.pdf: 1184679 bytes, checksum: b4481f679814c2f7d3cdb3fb6dda5f07 (MD5) Previous issue date: 2005-07-19 / The purpose of this work consists of the exploratory study about the positioning of directors and managers of an eastern multinational subsidiary company established in Brazil, as regards the implementation of the requirements determined for the Sarbanes-Oxley Act for the companies which have American Depositary Receipts negotiated in North American stock exchange. Initially they are presented, from bibliographical and documentary research, the main points of the Act and the management aspects with which it interacts, as risk management, corporate governance and internal controls. In the sequence, the methods and techniques of the research are demonstrated, as well as the argument that substantiated the decision for the use of the case study method as the appropriate strategy for the research. The elaboration of the protocol for the case study consisted in the main tactics to increase the research reliability and to guide the researcher during its development. To collect the data it was elaborated and applied a questionnaire to all directors and managers of the company. The data had been treated by the descriptive Statistics, conjugated with not-parametric techniques (discriminant analysis), for the application of the Kruskal-Wallis test, with the use of SPSS software. After the data collection, treatment, analysis and interpretation, it was gotten answer to the research question, how the company directors and managers will act front to the necessity of the requirements implementation determined for the Sarbanes-Oxley Act. The research demonstrated that the directors and managers are conscious of the deficiencies of the current internal control system, corporate governance and risk management. It also demonstrated the necessity of investments for the full attendance to the requirements of the Law. In addition, it was verified that the rules of internal control and corporate governance are not fulfilled by all the employees. It was detected, also, the existence of an appetite for risks, however the culture directed to the risk management is incipient. / O objetivo deste trabalho consiste no estudo explorat??rio sobre o posicionamento dos diretores e gerentes de uma companhia subsidi??ria de multinacional oriental estabelecida no Brasil, quanto ?? implementa????o dos requisitos determinados pela Lei Sarbanes-Oxley para as empresas que possuem American Depositary Receipts negociados em bolsas de valores norte-americanas. Inicialmente s??o apresentados, a partir de pesquisa bibliogr??fica e documental, os principais pontos da citada Lei e os aspectos de gest??o com os quais interage, como gest??o de riscos, governan??a corporativa e controles internos. Na seq????ncia s??o demonstrados os m??todos e t??cnicas da pesquisa e a argumenta????o que embasou a decis??o pela utiliza????o do m??todo do estudo de caso como a estrat??gia mais adequada para a pesquisa. A elabora????o do protocolo para o estudo de caso constituiu-se na t??tica principal para aumentar a confiabilidade da pesquisa e orientar o pesquisador durante o seu desenvolvimento. Para coletar os dados foi elaborado e aplicado question??rio a todos os diretores e gerentes da empresa. Os dados foram tratados pela Estat??stica descritiva, conjugada com t??cnicas n??o-param??tricas (an??lise discriminante), pela aplica????o do teste de Kruskal-Wallis, com aux??lio do software SPSS. Da coleta, tabula????o, an??lise e interpreta????o dos dados obteve-se a resposta ?? quest??o de pesquisa, como os diretores e gerentes da empresa agir??o frente ?? necessidade de implementa????o dos requisitos determinados pela Lei Sarbanes-Oxley. A pesquisa demonstrou que os diretores e gerentes est??o conscientes das defici??ncias dos atuais sistemas de controle interno, governan??a corporativa e gest??o de riscos. Demonstrou tamb??m a necessidade de investimentos para o pleno atendimento ??s exig??ncias da Lei. Subsidiariamente, verificou-se que as regras de controle interno e governan??a corporativa n??o s??o cumpridas por todos os funcion??rios. Foi detectada, tamb??m, a exist??ncia de um apetite para riscos, por??m a cultura voltada ?? gest??o de riscos ainda ?? incipiente.

La traçabilité est un mécanisme qui est indispensable dans la conduite des activités de vérification de la conformité des compagnies à la loi Sarbanes-Oxley. Cette loi rend les administrateurs (PDG, Chef des affaires financières, etc.) responsables des déclarations faites dans les états financiers. Elle a été établie dans la foulée des scandales corporatifs aux États-Unis, comme ceux des compagnies Enron et Worldcom. Les données utilisées pour produire les états financiers, lesquelles sont produites par des systèmes informatiques périphériques, transitent toujours par des bases de données. L'implantation d'un mécanisme de traçabilité des bases de données se heurte à plusieurs problèmes, dont le plus important est la gestion du volume des données de traçabilité, lequel devient rapidement trop important pour rendre les données de traçabilité utiles. Ce mémoire démontre qu'une solution envisageable pour résoudre ce problème consiste à identifier et à définir les comportements typiques de la fraude et d'utiliser ces comportements comme indicateurs de fraude potentielle. Jumelés à des techniques de classification telles que la classification Baysienne qui est utilisée dans le domaine de la détection du pourriel, les indicateurs permettront la classification des transactions potentiellement frauduleuses, dans le but d'appliquer le mécanisme de traçabilité qu'à ces transactions. Ainsi, nous démontrons que l'application de la classification Baysienne sur ces attributs, permet effectivement de détecter et de classifier des transactions frauduleuses comme tel et qu'en conséquence, un traitement de traçage spécifique peut être effectué sur ces transactions. En ne traçant plus spécifiquement que les transactions identifiées comme frauduleuses, le volume de données de traçabilité est alors réduit à son expression la plus utile et simple et du coup le problème de la gestion du volume des données de traçage s'en trouve d'autant diminué. Notre expérimentation démontre le bien-fondé de cette approche pour différencier les transactions honnêtes des transactions frauduleuses. Cette différenciation s'est faite avec un haut taux de succès et avec grande fiabilité, tel que démontré par les taux de détection obtenus pour les transactions frauduleuses. Les résultats détaillés sont documentés dans ce mémoire et prouvent la viabilité de cette approche. Comme les attributs utilisés qui sont basés sur les indicateurs de comportements sont intimement liés au domaine d'application, nous proposons une approche pour raffiner les résultats et ainsi rendre possible la différenciation des différents types de fraude à l'intérieur de ces transactions frauduleuses. ______________________________________________________________________________ MOTS-CLÉS DE L’AUTEUR : Fraude, Sarbanes-Oxley, Traçabilité, Détection automatique, Classification, Bayes.

Made available in DSpace on 2016-04-25T18:40:42Z (GMT). No. of bitstreams: 1 Raphael Moggioni de Lima.pdf: 444702 bytes, checksum: 56f47c113f2541bfd33f3159e4e6c428 (MD5) Previous issue date: 2009-12-17 / Bankruptcy cases as the ones occured in U.S. economy after 2001 involving big corporations, as Enron, WorldCom and Global Crossing have exposed the fragilities of the companies internal control over financial reporting. Trying to reestablish the confidence in financial information provided to the investors and the market balance, the U.S. Congress enacted the Sarbanes Oxley Act (SOX), on 30 July 2002, introducing numerous changes to corporate governance and with respect to the controls over the results achieved. The rigorous changes introduced by SOX have been raised lots of discussions about the costs and benefits for the companies and the investors. This work aims to analyze the existing relations between the internal control over financial reporting disclosure (one requirement according to SOX) and the market performance of the companies shares. The analyses perform were based on regressions with brazilian companies informations issued in U.S. market share. The data used in the study are secondary, from the data base economática and the forms 20-F. The results show that the returns are badly affected in short term, however in longer periods there is no evidence between the internal control deficiencies disclosure and the increase in risk perceptions for the investors / Processos de falência como os ocorridos na economia norte-americana a partir do ano de 2001, afetando grandes organizações, tais como: Enron, WorldCom e Global Crossing expuseram a fragilidade do sistema de controles internos das empresas sobre as divulgações financeiras. Buscando restaurar a confiança nas informações fornecidas aos investidores e o equilíbrio dos mercados, o Congresso dos Estados Unidos promulgou a Lei Sarbanes-Oxley (SOX), de 30 de julho de 2002, repleta de reformas no ambiente da governança corporativa e nos controles sobre a contabilização dos resultados alcançados. As rígidas alterações trazidas pela SOX têm suscitado diversas discussões sobre os custos e benefícios para as companhias e os investidores. O presente estudo tem como objetivo analisar a relação existente entre a divulgação de deficiências no sistema de controles internos das empresas, uma das exigências da Lei Sarbanes-Oxley, e o desempenho das ações das companhias. A análise foi realizada por meio de regressões estatísticas com informações das empresas brasileiras que emitem títulos no mercado norte-americano. Os dados foram coletados do banco de dados Economática e dos formulários 20-F. Os resultados indicam que os retornos são afetados negativamente no curto prazo, contudo em períodos mais longos não há relação direta entre a divulgação de deficiências nos controles internos e aumento na percepção de risco pelos investidores

Using 1,473 going private transactions completed between 1985 and 2007, I assess whether the increase in going private transactions that occurred after the passage of the Sarbanes-Oxley Act of 2002 (SOX) was driven by SOX, or whether this phenomenon continues an ongoing historical trend. To examine this issue, I initially used structural break tests and intervention analysis. From the initial techniques, I find support that the passage of SOX increased going private transactions for these categories. Secondarily, I use Granger causality tests and impulse response functions to examine the link between going private transactions and the public stock market. When I categorize going private transactions according to the type of acquirer, transaction size, and target industry, I find bi-directional Granger causality relationships between smaller-sized going private transactions and the S&P 500 Index (or Tobin's Q). I also find several unidirectional Granger causality relationships for some categories of going private transactions, based on the type of acquirer or the target industry, to the S&P 500 Index (or to Tobin's Q). The impulse response of going private transactions (or the public stock market) to a shock in the public stock market (or going private transactions) is not immediate, but is delayed two to three quarters. The link between going private transactions and the public stock market is an ongoing phenomenon, continuing a historical trend for going private transactions. For going private transactions with structural breaks, SOX affects the linkage but not for going private transactions with no structural break.

No description available.

Made available in DSpace on 2016-04-25T18:40:28Z (GMT). No. of bitstreams: 1 Magali Aparecida Camazano.pdf: 740899 bytes, checksum: a0beef09f1c292595d15bc89e031aaca (MD5) Previous issue date: 2008-02-14 / Deregulation and globalization of financial services allied with the sophisticated technology used to perform financial operations have increased the complexity of banking activities resulting in the subsequent exposure of financial corporations to operational risk. Several cases of huge losses related to operational risk have been reported in the last 10 years as the bankruptcy of the traditional Barings Bank in England. Therefore, the New Basel Capital Accord (Basel II), published by the Basel Committee in 2004, established that internationally active banks are required to allocate capital to cope with operational risk (just as required for credit and market risks). The Brazilian Central Bank, following the demands as established by the Basel II Accord has also determined that Brazilian financial corporations are required to allocate regulatory capital to face operational risk as well as implement an operational risk management framework. At the same time, losses related to operational risk occurred in different segments of the economy where American corporations as Enron and WorldCom perpetrated huge accounting frauds resulting in their subsequent bankruptcy in 2001 and 2002 respectively. These events led to the enactment of the Sarbanes-Oxley Act of 2002. On account of the importance of operational risk management for the soundness of the financial market and the close relation existing between such risk and the requirements mandated by Sarbanes-Oxley, such as the enhancement of accounting internal controls and corporate governance attributes, this paper intends to study the influence as set forth by the American Act over the operational risk management within the Brazilian financial corporations that are required to comply with this Act such as Bradesco, Itaú and Unibanco. Thus, a comparison was made between the framework established by the Basel Committee for the banking operational risk management and the mandates of Sarbanes-Oxley Act. This study disclosed that both, either the Basel Committee framework as the Sarbanes-Oxley Act focus on the same purposes, that is, control and mitigate the events likely to result in operational risk. Sarbanes-Oxley enables the enhancement of both, accounting internal controls and corporate governance practices, as it will serve as an additional tool for the management of operational risk, cooperating with and supplementing the Basel Committee framework. Therefore, Sarbanes-Oxley allows the Brazilian financial corporations to lower the capital allocation for operational risk due to their decreasing exposure to related risk / A desregulamentação e a globalização dos serviços financeiros associadas à sofisticação das tecnologias financeiras têm aumentado a complexidade das atividades bancárias e a conseqüente exposição dos bancos ao risco operacional. Casos diversos de perdas catastróficas relacionadas ao risco operacional se fizeram presentes nos últimos 10 anos, a exemplo da quebra do tradicional Barings Bank, na Inglaterra. Por decorrência, o Novo Acordo de Capital da Basiléia (Basiléia II), divulgado pelo Comitê da Basiléia em 2004, introduziu a necessidade de alocação de capital para risco operacional (tal qual para os riscos de crédito e de mercado) pelos bancos internacionalmente ativos. O Banco Central do Brasil, à luz do Acordo Basiléia II, igualmente instituiu a necessidade de alocação de capital regulatório para o risco operacional por parte das instituições financeiras brasileiras, bem como a implementação de estrutura de gerenciamento do risco operacional. Paralelamente, prejuízos relacionados ao risco operacional ocorreram em outros segmentos da economia, destacando-se os escândalos contábeis e falências das empresas americanas Enron e WorldCom em 2001 e 2002, respectivamente, culminando na promulgação do Sarbanes- Oxley Act of 2002. Face à importância do gerenciamento do risco operacional para a solvência do mercado financeiro e à estreita relação existente entre tal risco e os requerimentos impostos pelo Sarbanes-Oxley, tais como o aprimoramento de controles internos contábeis e de aspectos de governança corporativa, este trabalho teve por objetivo estudar a influência das exigências da Lei americana sobre o gerenciamento do risco operacional das instituições financeiras brasileiras sujeitas à sua observância, a saber: Bradesco, Itaú e Unibanco. Para tanto foi adotado o método de procedimento comparativo, tendo sido realizado cotejo entre o marco regulatório do Comitê da Basiléia para o gerenciamento do risco operacional bancário e as exigências do Sarbanes-Oxley Act, cujo resultado revelou a existência de convergência entre ambos, pois possuem a mesma base conceitual de propósitos, qual seja, controlar os fatores de consubstanciação do risco operacional. O Sarbanes-Oxley proporciona o aperfeiçoamento dos controles internos contábeis e das práticas de governança corporativa, caracterizando-se como um instrumento adicional ao gerenciamento do risco operacional, contribuindo e complementando o marco regulatório do Comitê da Basiléia. Outrossim, o Sarbanes-Oxley propicia a redução de alocação de capital para risco operacional, pelas instituições financeiras brasileiras, haja vista seu potencial de redução à exposição ao referido risco

The purpose of this dissertation is to investigate the effect of U.S. firms’ geographic location, whether urban or rural, on their corporate disclosure and governance practices. An “urban” firm is one that is headquartered in a large metropolitan area; whereas, a “rural” firm is one that is headquartered some distance from any metropolitan area. Specifically, the study examines whether there are different stock market reactions to urban and rural firms around key event dates relative to the enactment of the Sarbanes-Oxley Act (SOX) on July 30, 2002. Also, the readability and linguistic style in the Management Discussion and Analysis (MD&A) section of public company’s annual reports (Form 10-K) to the Securities and Exchange Commission (SEC) are investigated to determine whether urban and rural firms communicate information differently to investors.

Compliance programs have grown since the early 1990s and evolved more formally into corporate institutional or enterprise-wide programs with the passage of the Sarbanes-Oxley Act of 2002. Formal institutional compliance programs are emerging in colleges and universities to assist in the management of the myriad of regulations and requirements placed on them by accrediting bodies, creditors, boards, donors, grantors, and federal and state regulators. An effective compliance program provides the structure for the institution and its employees to conduct operations ethically, with integrity, and in compliance with legal and regulatory requirements. The goals of this study were to identify organizational structures that assist large, public universities in effectively managing institutional compliance, the elements that shape these structures, and the benefits and limitations of those structures.

沙氏法是美國在經歷一連串包括安隆、世界通訊等知名企業在內的財報不實醜聞後，為重建投資大眾對公開發行公司財報及美國證券市場的信心，迅速於2002年7月30日頒佈之一項企業革新法。綜觀其中66項條款，引發最多爭議、且對所有公司影響最大的首推404條款。該條款要求管理階層與簽證會計師評估公司與財務報導有關之內部控制制度其有效性，而爭議的重點主要在其實施方式和高遵循成本。 本研究透過個案研究，以深度訪談與問卷調查的方式，瞭解個案公司為遵循沙氏法404條款而推動之專案其組織架構與施行程序，同時蒐集公司主管及員工之意見，以分析實施效益並提出建議。 研究發現，33.34%的受訪者認同公司遵循沙氏法404條款所獲得的效益大於成本，17.34%反對，49.33%持中性看法。受訪者除認為實施沙氏法專案有助於強化同仁的風險意識、引導公司重新檢視與財務報導有關之內部控制制度，並將作業程序標準化、提升內控品質與財報可信度、遵循集團政策外，同時認為沙氏法專案有改善的空間，尤其在整合公司現有的風險控管機制、簡化測試流程及對測試文件的要求等方面。 誠如個案公司財務長所重視的“塑造企業文化”，沙氏法404條款強調的是“由上到下、以風險為基礎”，因此，樹立正確的在上位者之語調與表態極為重要，尤其是董事會、執行長和財務長，必須全力支持，建構具成本效益且符合沙氏法404條款的測試架構，以評估與財務報導有關之內部控制，進而確保財務報導之可靠性。 / After a whole series of financial scandals, such as Enron and WorldCom frauds, the US government swiftly declared the Corporate Reform Law on July 30, 2002, i.e. the Sarbanes-Oxley Act of 2002 (“SOX”), aiming to restore investors’ confidence in financial statements of the public companies and the US security market, as well. Among 66 sections in total in SOX, the most contentious aspect, which has also made significant impacts on companies, is Section 404 (“SOX 404”) requiring management and the external auditors to assess the effectiveness of Internal Control over Financial Reporting (“ICFR”). The key point of contention is its stringent implementation and high compliance cost. In-depth interview and questionnaire survey methods were adopted in this case study to explore how the researched company (“the Company”) implemented its project in response to SOX 404 and then to have a detailed analysis based upon the answers and comments obtained from the interviewees and the questionnaire respondents. Suggestions are made at the end of the study. The study finds that 33.34% of the respondents agreed with the view that compliance with SOX 404 generates greater benefit than cost to the Company, while 17.34% were against it, and 49.33% remained neutral. Despite the fact that abiding by SOX may enhance the employees’ risk awareness, guide the company to reexamine its ICFR, add more credibility of financial reports, and conform to Group policy etc., both the interviewees and the respondents consider that there is room for improvement as far as SOX 404 project is concerned. For example, a full integration of the existing risk management mechanisms and also a great simplification of testing procedures and documentation requirements. Just as the CFO of the Company highlights the importance of molding enterprise culture, SOX 404 is also top-down, risk-based oriented. As a result, it is essential to set the right tone at the top. The Board of Directors, CEO, and CFO must give their full support for building a testing framework, which is cost-effective and keeps to SOX 404. By doing so, ICFR can be accurately assessed, and the reliability of financial reports can be virtually assured.