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Sarbanes-Oxley Act and its effective application
Nováková, Lucie ; Vácha, Petr (advisor) ; Pelák, Jiří (referee)
The thesis aims to raise the knowledge about operation of Sarbanes-Oxley Act and its effective application. The thesis describes historical background and arguments for its creation. It presents each section of the law with a focus on the internal control section. The thesis characterizes recommended methodes of successful application of the SOX Act. The main factors of effective control environment are discussed on the example of the COSO control framemork along with a description of the testing. Then, the thesis examines the impact of the law on external audit. Next chapter clarifies progression of the law followed with an analysis of the impact on the economy and companies. High-quality internal control system has positively influenced accuracy and reliability of the financial statements and has also improved investor´s confidence and reduced likelihood of a fraud. For effective application of the SOX Act it is crucial to understand internal processes and clearly determine the internal control objectives.
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The techniques of fraudulent conduct and forensic investigation
Rücklová, Žaneta ; Králíček, Vladimír (advisor) ; Molín, Jan (referee)
The thesis deals with the issue of fraudulent conduct, detection, investigation and prevention. The first part defines the most common types of fraudulent schemes, including detailed specifications, warning signals and measures to avoid them. Also describes the role and importance of forensic investigation. The second part analyzes the typical offender and the efficiency of detection of fraudulent conduct. The work is completed by tables and graphs that are supported by actual cases of fraud in the Czech Republic and the USA. The third part describes the impact of the Sarbanes-Oxley Act to improve investors protection and prevention in the fight against fraud on the U.S. capital markets.
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Ethics in the auditing profession
Morsteinová, Adéla ; Roubíčková, Jaroslava (advisor) ; Černý, Václav (referee)
The work deals with ethics in the auditing profession and its abuses. It focuses in particular on the legal regulation of ethics in the external and internal audit, in detail deals with the ethical code in both auditing professions. Part of the thesis deals with fraud in the audit and are given specific cases of violation of ethics in practice and in the end work is given Sarbanes-Oxley Act, which was created in response to the first major scandals associated with the auditing firms.
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creative accounting
Havlůj, Zdeněk ; Pelák, Jiří (advisor) ; Molín, Jan (referee)
In this thesis I try to clarify the concept of "creative accounting ". First I define the difference between error and fraud. Then I try to compare two different accounting systems (IFRS and Czech accounting standards). I specify the major differences between these two systems (the valuation of assets, the principle of revenue recognition etc.) and I compare their impact on the financial statements. In the end I consider the role of adoption of the Sarbanes-Oxley Act in relation to the creative accounting.
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Stock markets regulation - chosen regulations impact on stock market
Kecl, Michal ; Jílek, Josef (advisor) ; Munzi, Tomáš (referee)
The thesis is focused on state interventions and regulation on field of stock exchanges. On special examples I show for and against argumentation of real precautions. I repeal the questions of public konvenience of these precautions. In the first part of the thesis I begin with historical genesis of exchange especially in our area including the origin -- private or state. The first part continue with theoretical functions of stock exchange and its fulfilment in case of The Stock Exchange in Prague. In the second part I present dilemma of squeeze-out or expropriation of minority shareholders.There will be arguments of proposers, opponents and also neutral arbiter representing by The Constitutional Court of the Czech Republic. In the third part of the thesis I present an example of foreign regulation. It is Sarbanes-Oxley Act with its impact on different entities. In conclusion I propose some changes and I want to give a support to discussion about state admission to regulation of stock markets.
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Moral Hazard in Corporate Governance
Mencnarowská, Lucie ; Malý, Milan (advisor) ; Ježek, Tomáš (referee)
The thesis analyzes moral hazard in corporate governance and brings in actual theoretical knowledge on the topic. It examines four examples of the companies which went bankrupt due to moral hazard of their top management: Enron, WorldCom, Parmalat and IPB. All case studies are assessed in accordance with OECD Principles of Corporate Governance. At the end of the thesis, there are mentioned impacts on legislature and suggestions of possible solutions.
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Role interního auditu, bankovního ombudsmana a finančního arbitra v českém bankovnictví.
Dudashvili, Marianna ; Dvořáček, Jiří (advisor) ; Kříž, Radim (referee)
V práci se jedná o roli interního auditu v organizacích a zvlášť v českém bankovnictví, o rozvoji interního auditu. Jednou z kapitol je právní a písemná úprava interního auditu; stručný popis zákonů a Standardů, kterými se praxe interního auditu řídí. Značnou části je podrobný rozbor činnosti následujících institucí: finančního arbitra ČR, bankovního ombudsmana České spořitelny, bankovního ombudsmana Komerční banky. Práce také zahrnuje průzkumy trhu, které byly uskutečněné společnostmi Ernst&Young a PricewaterhouseCoopers.
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Role interního auditu, bankovního ombudsmana a finančního arbitra v českém bankovnictví.
Doudachvili, Marianna ; Dvořáček, Jiří (advisor) ; Kříž, Radim (referee)
V práci se jedná o roli interního auditu v organizacích a zvlášť v českém bankovnictví, o rozvoji interního auditu. Jednou z kapitol je právní a písemná úprava interního auditu; stručný popis zákonů a Standardů, kterými se praxe interního auditu řídí. Značnou části je podrobný rozbor činnosti následujících institucí: finančního arbitra ČR, bankovního ombudsmana České spořitelny, bankovního ombudsmana Komerční banky. Práce také zahrnuje průzkumy trhu, které byly uskutečněné společnostmi Ernst&Young a PricewaterhouseCoopers.
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