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  • The Sarbanes Oxley Act

    1162 Words  | 5 Pages

    In the begging of 2000’s after a period of corporate scandals involving large public companies, senate enacted the Sarbanes-Oxley Act, which is referred to as SOX or Sarbon. The act was enacted 14 years ago on July, 30 2002. Also this act was known as the “Public Company Accounting Reform and Investors Protection Act of 2002.” There are many serious accounting and corporate scandals that influenced companies Tyco International, Global Crossing, Enron, WorldCom. For instance the bankruptcy of “ENRON”

  • Sarbanes Oxley

    1476 Words  | 6 Pages

    accounting firms. Sarbanes Oxley has made many changes to many companies. The major financial scandals have impacted many investors and required more regulations to avert this problems. Sarbanes Oxley has tried to increase ethics in the upper management in many public companies. The upper management has tried to improve on social responsibility and increase the public view. There are many critics to Sarbanes Oxley and many different suggestions on improvements. History of Sarbanes-Oxley Act Scandals

  • Sarbanes Oxley Act

    1322 Words  | 6 Pages

    Sarbanes-Oxley Act The Sarbanes-Oxley is a U.S. federal law that has generated much controversy, and involved the response to the financial scandals of some large corporations such as Enron, Tyco International, WorldCom and Peregrine Systems. These scandals brought down the public confidence in auditing and accounting firms. The law is named after Senator Paul Sarbanes Democratic Party and GOP Congressman Michael G. Oxley. It was passed by large majorities in both Congress and the Senate and covers

  • Sarbanes Oxley Outline

    676 Words  | 3 Pages

    The Ineffectiveness of the Sarbanes Oxley Act In Corporate Management and Accounting In the early 1990s, a young company named Enron was quickly moving up Fortune magazine’s chart of “America’s Most Innovative Company.” As the corporate world began to herald Enron as the next global leader in business, a dark secret loomed on the horizon of this great energy company. Aggressive entrepreneurs eager to push the company’s stock price higher and a series of fraudulent accounting procedures involving

  • Sarbanes Oxley Memo

    1410 Words  | 6 Pages

    DATE: August 22, 2005 SUBJECT: Sarbanes-Oxley recommendations As consultants for Ancher Public Trading (APT), Learning Team A would like to discuss the implications of the Sarbanes-Oxley (SOX) legislation. This memorandum provides a brief history of SOX¡¦s creation, explains the relationship amongst the FASB, SEC and PCAOB, describes the pros and cons of SOX, assesses the impacts of SOX, and lists ethical considerations of SOX. History of SOX - the Sarbanes-Oxley Act of 2002 is legislation

  • Sarbanes-Oxley Act 2002

    1786 Words  | 8 Pages

    The Sarbanes-Oxley Act of 2002 (often shortened to SOX) is legislation passed by the U.S. Congress to protect shareholders and the general public from accounting errors and fraudulent practices in the enterprise, as well as improve the accuracy of corporate disclosures. The U.S. Securities and Exchange Commission (SEC) administers the act, which sets deadlines for compliance and publishes rules on requirements. The Sarbanes-Oxley Act was enacted in response to a series of high-profile financial scandals

  • Sarbanes-Oxley Act Research Paper

    1097 Words  | 5 Pages

    Sarbanes-Oxley Act of 2002 Karla Azcue ACC 120-09 Mr. Donald Senior The Sarbanes-Oxley Act of 2002 is one of the most important legislations passed in the 21st century effecting financial practice and corporate governance. This act was passed on July 30, 2002 thanks to Representative Michael Oxley a republican from Ohio and Senator Paul Sarbanes a democrat from Maryland. They both passed two different bills that pertain to the same problem which had to do with corporation's auditing accountability

  • Analysis of the Sarbanes-Oxley Act

    3143 Words  | 13 Pages

    Analysis of the Sarbanes-Oxley Act Abstract The Sarbanes-Oxley Act (SOX) was enacted in July 30, 2002, by Congress to protect shareholders and the general public from fraudulent corporate practices and accounting errors and to maintain auditor independence.   In protecting the shareholders and the general public the SOX Act is intended to improve the transparency of the financial reporting.   Financial reports are to be certified by the Chief Executive Officer (CEO) and Chief Financial Officer

  • 2002 Sarbanes-Oxley Act

    1726 Words  | 7 Pages

    Introduction The 2002 Sarbanes-Oxley Act was implemented for the main purpose of protecting investors through enhancing and promoting a real sense of transparency, precision and accountability when it comes to the governance of corporate entities and this was to ensure that the divulgences employed by the corporates are in pursuant to the ordinances of the sureties of the investors and the act also had other functions as well. In brief, the Act was enactment in 2002 was mainly that it helps in restoration

  • Essay on The Sarbanes-Oxley Act

    852 Words  | 4 Pages

    many organizations today that are using the Sarbanes-Oxley (SOX) legislation that helps to safeguard their company and their financial records. The Sarbanes-Oxley act began in 2002 and the purpose behind this act was to protect organizations, it had a major impact on accounting and record keeping. Because of Enron, they passed this act for publicly-traded corporations to better implement control to their enterprise data. “Named after Senator Paul Sarbanes and Representative Michael Oxley, who also