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From the e-Activity research you gathered, analyze how you, as the Chief Financial Officer (CFO) of a “big box store” that has potential pollution, environmental-disposal, or demolition problems, would handle these costs in your financial statements and communicate this proposed plan to your colleagues on the management team. Indicate how any resistance would be overcome. Support your stance with the information that you obtained through your research.

Under the Sarbanes-Oxley Act, CEOs and CFOs must certify the internal control in their companies. Specifically, they must acknowledge their responsibilities for maintaining controls and procedures that affect financial reporting. They must also conclude and report on the effectiveness of internal controls and procedures for financial reporting as of year-end. Finally, the external auditor must attest to the assertions made by management regarding internal control in the organization.

Increased transparency across the board directly aids companies in their ability to detect any kind of fraudulent or suspicious financial reports

The CEOs and the CFO should stick to Accounting standards offers standard ways of recognizing, measuring and presenting financial transactions. Any change in standards will affect the reporting of an enterprise and its comparison of results over a number of years

Recommend the advantages and disadvantages of recording the above-referenced costs in the financial statements and how this might alter the company’s public image.

One disadvantage of using financial statements for decision making is that the data and figures are based on the market at that given time. Depending on the market, it may change quickly, so executives should not assume that the numbers from a previous financial statement will remain the same or increase.