The Sarbanes-Oxley Act Essay 1162 Words5 Pages Introduction The Sarbanes-Oxley Act, or SOX Act, was enacted on July 30, 2002. Since it was enacted that summer it has changed how the public business handle their accounting and auditing.
The Sarbanes-Oxley Act of 2002, often abbreviated as SOX, is a legislative act passed by Congress in response to the Enron and WorldCom financial scandals. The primary purpose of SOX is to protect shareholders from errors or fraudulent reporting by the company they have invested in.
Sarbanes-Oxley Act Essay; Sarbanes-Oxley Act Essay. 1173 Words 5 Pages. Show More. Sarbanes-Oxley Act Impact on Businesses When determining to transition from a private company to a public company there are many factors that must be considered. There are decisions that need to be made determining whether enough capital can be raised.The Sarbanes-Oxley Act is the single most significant piece of legislation embracing corporate governance since the U.S. securities laws of the 1930s. At the forefront of this legislation, is the intent to restore public confidence and interest at a time when there was an avalanche of corporate scandals.Sarbanes-Oxley Act of 2002 is one the most significant group of rules administered by government.
The Sarbanes- Oxley Act is meant to mitigate unethical financial accounting practices by corporate auditing firms. This serves the importance of enhancing the reliability and accuracy of financial statements given by companies.Read More
Sarbanes-Oxley Act Article Essay Section 404 of the Sarbanes-Oxley Act This article review is on the article written by David S. Addington called “Congress Should Repeal or Fix Section 404 of the Sarbanes-Oxley Act to Help Create Jobs.” The Heritage Foundation published the article on September 30 2013. In the article, the author addresses concerns among companies staying in compliance.Read More
The purpose of this report is to present the Sarbanes-Oxley Act, starting from the history of self-regulation and its regulatory bodies, presenting the governance scandals which triggered the Act’s creation, emphasizing the requirements of Section 404 and concluding on recent crises.Read More
In the year 2002, Congress passed the Sarbanes-Oxley Act, also known as SOX. The purpose of the Act is to emphasize regulatory standards to be maintained by public accounting firms, and the management and board of public companies. The top management and board of corporations are accountable for their company’s financial dealings and records.Read More
Sarbanes-Oxley Act has ensured that the Chief Financial Officer is either more knowledgeable or at the very least wants to be more knowledgeable about the internal controls within the company. If there is a particular control that is not gaining the needed result then a change can be made prior to the end of the year when a negative opinion from an outside auditor could make things worse.Read More
Running Head: Effects of the Sarbanes-Oxley Act. What will be the Effects of the Sarbanes-Oxley Act?. In recent years, scandals have filled the news with horrifying dishonesty from many corporate officials in high power positions. In the end of 2002, a new law was passed through legislation of th.Read More
The purpose of this paper is to highlight the benefits of the Sarbanes-Oxley Act of 2002 in terms of corporate accounting practices and provide analysis on how the Sunbeam scandal would have been affected by this act. Benefits of the Sarbanes-Oxley Act of 2002 The Sarbanes-Oxley Act (SOX) was enacted on July 30, 2002.Read More
The Sarbanes - Oxley Act of 2002 was signed into law in July 2002. It makes the most significant changes in corporate governance since the Securities Act of 1933 and the Securities Exchange Act of 1934. The purpose of the new law is to protect investors by improving the accuracy and reliability of.Read More
Sarbanes-Oxley Act (Client name) Research Writing. SARBANES OXLEY-ACT 2. The Sarbanes-Oxley Act is legislation put forth by the United States Congress to ensure. the protection of the gen eral public and shareholders from fraudulent practices and accounting.Read More
Internal Controls and the Sarbanes-Oxley Act Essay - Internal controls are in place to protect entities against theft from dishonest workers and outside predators. They are also an accurate series of checks and balances and are in place to find discrepancies.Read More