Thabit H. Thabit
Department of Control and Internal Audit, Ninevah University, Mosul, Iraq
Email: [email protected]
Alan Solaimanzadah
Department of Accounting, Cihan University, Erbil, Iraq
Email: [email protected]
Doi:10.23918/icabep2018p28
(Full Paper)
Abstract
This paper aims to present the role of the Sarbanes-Oxley Act (SOX) in enhancing the Internal Control (IC) systems in banks and to explain the cons and pros of applying the act in developing countries. The researchers display main topics of the SOX Act, the possibilities for applying it in developing countries, and its impacts on the IC system of banks. They measured the role of SOX Act by distributing 50 questionnaires on a random group of bank’s
managers, and accountants in banks of Kurdistan. The questionnaires are analyzed by two statistical tools (Lean Diagnoses Tool and Fuzzy Logic) to get reliable information about the role of the SOX Act in enhancing the IC systems in banks. The researchers conclude that applying the SOX Act in banks will make the IC systems in banks of developing countries stronger, and will provide managers and shareholders with high-quality reports about IC systems in the banks.
Keywords: SOX Act, IC Systems, Banks of Kurdistan, LDT, and Fuzzy Logic.
ISBN 978-0-9962570-9-1
Faculty of Administrative Sciences and Economics
Tishk International University
