Explain 3 examples of the specific steps the Sarbanes Oxley Act requires regulat

Question

Explain 3 examples of the specific steps the Sarbanes Oxley Act requires regulated entities to undertake to create enhanced transparency directly related to the supply chain management process.

Explain 3 examples of the important differences between contract laws under the UCC versus common/case law as it relates to the formation of contracts in the supply chain function.

Explain 3 examples of the direct or indirect benefits a company might derive from utilizing the following programs: 1) supplier diversity, and 2) sustainable/green procurement.

Explanation / Answer

The three steps Sabanes Olexy Act requires regulated entity to undertake to create enhanced transparency related to supply chain management process are as follows:

1. The control environment for the process of supply chain management is needed and would be accessed by the auditor. The example is that the section 404 of the act requires this.

2. Standardizing the process- The sandardizing process would not have the conflict with the operations. The identifications and the addressing inconsistency in the process can be substantial. The Sunoco case, where the have the three or four ways of invoice into the system. So there were a problem to deal with which invoice system.

3. Strengthen weak links of the system- The weak links of the system would be arises as the complexity in the process of outsourcing, partnership and the shared services agreement. The example of this would be included in the it applications of the supply chain management of the company. The transparency in the management system would impact the whole process of supply chain management as it is a part of the management system. If the whole processes in the management is transparent then the supply chain wouldn't have the conflict with the team of the company. They would get the proper invoices, bills, payments on time, and may not affect the main process too.

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.