Cfo Resignation

 Essay regarding Cfo Resignation

To: Maria Tioseco, Supervisor by Farmers Group Inc.

Coming from: Tammera McLin, CPA by Farmers Group Inc.

Time: 7/9/2012

Lso are: CFO's Resignation and Security and Exchange Commission's (SEC) Investigation

On July 8, 2012, Arthur James, Farmers Group Inc. 's Chief Operation Officer (CFO), retired from our business suddenly and with no explanation. The United States Securities and Exchange Commission (SEC) is investigation our company About July eight, 2012, Arthur James, Farmers Group Inc. 's Primary Operation Police officer (CFO), retired from our organization suddenly and with no description. As a result of the SEC's trading, we are obligated to issue a seo press releases within one day of a material announcement, to provide broad, non-exclusionary disclosure data to the open public (Seitel, Chapter 7,  2011). " Among other requirements, Sarbanes-Oxley mandated every publicly traded businesses to increase economic disclosure and submit a report of the effectiveness with their internal accounting controls towards the SEC, with criminal and civil penalties for noncompliance ” (Seitel, 2011, Chapter 7). It is very important that the pr release communicates the changes in our organization immediately. " The first sight the public gets is usually one which is most important” (Seitel, 2011, Chapter 7). We need to hire a auditing firm to examine the financial information and reveal this simple fact to the community. The review can show Farmers' good faith and decrease the negative impact of advertising incurred, as a result of CFO's resignation (White, Jones,  2005). This kind of auditing company can offer adjustments and assist in the assembling or perhaps drafting of future economic statements, with no establishing Farmers' deficiency controls; since accomplishing this could hinder their independence (Clelland, 2008, para. 3).

Open public communication will probably be critical for Famers as we search for public or external stakeholders' acceptance in the CFO's resignation, understanding of each of our company's current financial balance in the...

Referrals: Clelland, T. A. (2008). В The potential impact of statement about auditing common number 112 (SAS

112). В Retrieved from

Dustin, T. В (2009). В Ethics within the SEC during the Madoff years. В The Truth Regarding Business,.

RetrievedВ fromВ

Seitel, F. S. (2011). The practice of public relations (11th ed. ). Retrieved from your University of

Phoenix, az eBook Collection database.

Light, T. Watts., Tantum, A. L. (2005). В Ethical things to consider in interior corporate

investigations. В Retrieved from

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