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Accountability don’t let it cost you or your business!
11/12/2006
New asset accounting standards and corporate governance legislation are not going to go away.
Every asset transaction is required to be available for analysis and reporting, including the purchase and sale of assets. For example, if a loss is made when an asset is sold, it must be measured and evaluated as to whether good value was acquired for that item.
This is Sarbanes – Oxley otherwise known as Sarbox
Under Sarbox, the control reports which are needed require ongoing verification and a greater level of detail.
The move towards international accounting standards is being driven by globalisation and the breaking down of national barriers. The shift to regulatory control will ensure that the days of self-regulation are numbered. Both these trends will certainly percolate down the market to even the smallest companies.
Assetware is a full asset management solution accredited by the Institute of Chartered Accountants that can help you audit and report accurately on your business, without signing your life away.
For further legislation information please visit:
www.iasb.org
www.basda.org
www.coda.com/library/IFRS.asp
For solution advice call me on 0845 456 0050 or email chloe.spencer@synergytechnology.co.uk
