University of Phoenix
SEC Regulations for Starbucks
Identify processes the organization uses to comply with SEC regulations
Every public traded company has to follow a certain regulations based on the Securities and Exchange Commission (SEC). This commission has laws and regulations for every public traded company and as such Starbucks has ways of complying with every directive in their quarterly and annual filings. One on the first responsibilities of the company is to keep everyone informed on their filings to the SEC which are quarterly and annually. Starbucks has an Audit and Compliance Committee which is primary purpose is to oversee the accounting and financial reporting processes of Starbucks Corporation. Such a committee has an internal and external audit processes. Also this Committee makes sure the company complies with all the rules and regulations the SEC requires. Some of those are the financial statements and disclosures to be included in the Company’s Annual report to shareholders, the Annual Report form 10-K, the quarterly reports on the forms 10-Q, or any similar reports filed with the SEC. This commission has a process of reviewing the audit processes with the upper management and independent auditors, upon completion of their annual audit. In term they receive the cooperation by the independent auditor’s not just employees on the company’s paycheck in order to receive more honest concrete information. Any disagreements with management that is not satisfactory resolved would have the company make changes on their financial statements. This is a good way of making sure everything is according to laws and provisions made by the SEC, in case of any audit made by the SEC the company is sure everything is done according to the law. “Based upon the review and discussion of the annual financial statements with management and the independent auditors, recommend to the Board that the annual financial statementsbe...