The Sarbanes Oxley Act ( Sox ) Essay

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Introduction
In the wake of accounting malpractices across several companies in the United States such as Enrol Corporation, Tyco International and WorldCom, there has been a lot of attention with regards to the accounting practices in the corporate sector. Specifically, the Sarbanes – Oxley Act (SOX) which was passed by congress in 2002, was aimed at addressing the situation by regulating fraudulent accounting practices such as bribery and wrong entries in books (Williams & Elson, 2010). While regulation has its own limits, it is hoped that ethical principles can go a long way in keeping accountants in check. To this end, a number of institutions formulated within the accounting professions such as the AICPA have come up with codes of conduct to guide the action of members and ensure that they act in a way that is morally right and in line with the profession.
Ethics can be defined as a set of values used to judge whether an action is morally right or wrong based on the duty and obligation of an individual (Hess, 2007). Hence, in view of a given task that has to be performed, we are able to judge the performance as being good or wrong based on some moral principles. Hutchings (2010) notes that ethics can be held by an individuals or a groups of people. This paper will be predicated on the thesis that both the utilitarianism and deontological viewpoints have potential to impact the accounting profession and have to be adopted with care.
Utilitarianism
Utilitarianism was

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