OPPapers.com Essay Index >> Business >> Sarbanes-Oxley Act
We have many free term papers and essays on Sarbanes-Oxley Act. We also have a wide variety of research papers and book reports available to you for free. You can browse our collection of term papers or use our search engine.
Sarbanes - Oxley Act - Canadian Response Sarbanes-Oxley Act Introduction Sarbanes-Oxley (also known as Public Company Accounting Reform and Investor Protection Act
Sarbanes-Oxley Act English 135 Instructor: Fawn-Bragg David Ross 15 February 06 Sarbanes-Oxley Act The "Sarbanes-Oxley Act" is a comprehensive corporate reform package
Sarbanes-Oxley Act Introduction The recent corporate scandals that have occurred at Enron, World.com and Tyco, to name a few, have done more than anger investors
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
Sarbanes Oxley Act of 2004 The Sarbanes-Oxley Act of 2002 was signed into law on July 30, 2002 by President Bush. The new law came after major corporate scandals
Submitted by BrianBurke on March 12, 2008
Category: Business
Words: 1071 | Pages: 5
Views: 302
Popularity Rank: 44,961
Average Member Grade: N/A (Add a Comment / Grade this Paper)
Introduction
The recent corporate scandals that have occurred at Enron, World.com and Tyco, to name a few, have done more than anger investors and the public. To the relief of many, these corporate scandals have spurred the government to pass legislation that significantly impacts the manner in which organizations present their financial statements. The Sarbanes-Oxley Act passed in 2002 sought to combat fraud by "improving the reliability of financial reporting, and restoring investor confidence" (Wagner, 2006, p. 133). Given the fact that Congress has not passed substantial legislation impacting the financial reporting of the organization since the 1930s, the passage of the Act clearly has notable ramifications for change. In an effort to assess that change, this investigation considers an overview of the Act and how it will impact corporate financial reporting.
Sarbanes-Oxley—An Overview
A precursory overview of the Sarbanes-Oxley Act demonstrates that there are a host of new provisions that have been developed for corporate financial reporting and responsibility. Among the most notable parts of the Act is Section 404 which requires "various internal controls and procedures for financial reporting such as the retention of documents (including email). Corporations must document their internal management controls, and the company's independent auditor must sign off on their effectiveness" (Scott, 2004, p. 48). In addition, the Act contains a "whistleblower provision" which requires companies to have a secure an anonymous system for whistleblowers to report company fraud (Scott, 2004). Further, the Financial Accounting Standards Board (FASB), which oversees accounting procedures for all organizations, "must have a majority of members not affiliated with accounting firms and to be funded by fees from publicly traded companies" (Hartmann, 2004, p. 23).
When the basic context of the Sarbanes-Oxley Act is examined overall,...
You must Login to view the entire paper.
If you are not a member yet, Sign Up for free!