FratFiles

• Save Paper

Sarbanes-Oxley Problem
On July 30, 2002, the Sarbanes-Oxley Act of 2002 was signed into law (Hooley, 2005). The Act applies publicly held companies and their audit firms. It dramatically affects the accounting professions and CPAs working as an auditor of a publicly traded company. In response to a wave of high-profile corporate crime such as the Enron debacle, Congress passed the Sarbanes-Oxley Act of 2002 ("Sarbanes-Oxley"), and President Bush signed the act into law on July 30, 2002. Sarbanes-Oxley was enacted to protect investors by combating corporate crime and improving corporate governance. As many commentators have noted, Sarbanes-Oxley requires companies to implement extensive corporate governance policies to prevent and timely respond to fraudulent activity within the company. For example, Sarbanes-Oxley expressly requires publicly traded companies to create anonymous hotlines for the reporting of fraud, and it requires executives to certify that their financial......

View the rest of this paper...

Approximate Word Count: 1340
Approximate Pages: 6 (250 words per double-spaced page)

Similar Essays

1. Sarbanes Oxley Problem
   

   Sarbanes Oxley Problem Sarbanes-Oxley Problem On July 30, 2002, the Sarbanes-Oxley Act of 2002 was signed into law (Hooley, 2005). The Act applies publicly held companies and

2. Sarbanes-Oxley Problem
   

   Sarbanes-Oxley Problem Executive Summary Following essay speaks to Sarbanes-Oxley Act of 2002, more specifically; major provisions of the Act, pro's and con's, and ethical

3. Sarbanes - Oxley Act - Canadian Response
   

   Sarbanes - Oxley Act - Canadian Response Sarbanes-Oxley Act Introduction Sarbanes-Oxley (also known as Public Company Accounting Reform and Investor Protection Act of 2002) is not

4. Sarbanes-Oxley Act
   

   Sarbanes-Oxley Act SARBANES-OXLEY ACT Introduction Business is one among the essential sectors of a nation's existence. The economy depends wholly upon the activities of the whole

5. Sarbanes-Oxley Act Research Paper
   

   Sarbanes-oxley act research paper 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