Sarbanes-Oxley Act

Liam Connelly

Mgt 323 A

Due Date: November 30, 2009

The Effects of the Sarbanes-Oxley constitute

Liam Connelly
Mgt 323 A
Due: November 30, 2009
The Effects of the Sarbanes-Oxley Act
at that place break been widespread re impressions to incorporated scandals which have become obviously common in corporate America. Government reaction to these wrong corporate and history scandals has led to statute and intervention. The Sarbanes-Oxley Act of 2002 is seen as a response to the lack of corporate governance attest in many corporations. The Sarbanes-Oxley Act of 2002 is also known as the Public Company Accounting Reform and Investor Protection Act of 2002 and commonly called Sarbanes-Oxley, Sarbox, or SOX. This United States federal law was enacted on July 30, 2002 in response to a number of major corporate and accounting scandals, including those affect Enron, Tyco International, Adelphia, Peregrine Systems, and WorldCom. The act is administered by the Securities and win over Commission. It sets deadlines for compliance and publishes rules on requirements. The Act contains 11 titles; these describe special(prenominal) mandates and requirements for financial reporting. Moreover, the Sarbanes-Oxley Act introduced major changes to the regulation of financial shape and corporate governance.



It is seen as the most important legislation affecting corporate financial reporting enacted in the United States since the mid-thirties (Li, 1). It is extremely essential in to ensure protect to shareholders and the everyday public from accounting errors and fraudulent practices in an enterprise. However, with political sympathies regulation and intervention one must asses the effect and consequences of such an act among public and private companies, as well domestic and foreign. This government intervention was intended to tackle major corporate and accounting scandals. However, as we look years later many outcomes have surfaced as a result SOX, both positive and negative.
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