CHECK THESE SAMPLES OF How Provisions of Sarbanes-Oxley Act have affected Ethics and Independence of Auditors
To further provide independence, a rotation of auditors for corporations has been established in the Sarbanes-Oxley Act.... The paper 'The sarbanes-oxley act of 2002' will look at the collapse of the corporate giant.... As a direct result of the collapse of Enron and the subsequent meltdown of its auditing firm Arthur Andersen, the sarbanes-oxley act was proposed.... Bush signed into law the sarbanes-oxley act, named for its sponsors, which would establish measures for corporate oversight and promise stiff punishments for those that even attempted, knowingly or unknowingly, to engage in corporate fraud....
19 Pages
(4750 words)
Research Paper
They include; nature and scope of service, due care, public interest, integrity, and independence and objectivity.... They ought to be in a position to effectively monitor the company in liaison with external auditors who are equally independent, on behalf of shareholders.... When discharging responsibilities, auditors might encounter pressures from the above groups.... This code obliges auditors to carry out professional services to the best of their ability considering the best interest of their clients, and still be consistent with the responsibility of the profession to the public....
8 Pages
(2000 words)
Research Paper
In the paper 'Impacts of sarbanes-oxley act on UK Companies' the author examines the Sarbanes-Oxley Act of 2002, which is the most important piece of legislation.... The largest part of the Sarbanes - Oxley act is not all the sections that it covers in the law, not who signed it, or even authored it; it is how corporations will comply to this extensive piece of legislation.... The sarbanes-oxley seeks to bring back the confidence in all publicly held corporations to the shareholders, while placing more responsibility on CEOs and CFOs for the actions of the corporation....
27 Pages
(6750 words)
Essay
Non-Audit Services and the Impairment of auditors' Independence: A Further Examination.... Providing the interim audit to client is against the fundamental principles governing the process, hence affecting the independence of the auditors in their work.... The objectivity can be assured if the client is to be independent to avoid the inconsistence with actual independence of the auditor and appearance of the independence in the interim audit process between them (Oates, and Goelzer 404-415)....
10 Pages
(2500 words)
Coursework
The author of "The Role of Auditing and Assurance" paper argues that the role of auditors is to detect errors and fraud and suggest ways and means of preventing them from recurring.... The role of auditors is to look into the books to ensure no suspicious transactions have been recorded.... The goals of auditors depend on the size of an organization.... The objectives of auditors can be classified into three categories namely, primary aims, secondary goals and finally specific
...
12 Pages
(3000 words)
Assignment
This will have the effect of compromising independence of the auditor to act in his capacity as an auditor.... sarbanes-oxley act of 2002 attempts to restore truth and trust in financial reporting by ensuring that the conceptual framework for financial reporting are adhered to.... he provisions of the act include
... Investors rely on audit reports prepared by independent and external auditors when making their investment decisions....
8 Pages
(2000 words)
Assignment
ndependence is a key ethical principle that governs the professional responsibilities of auditors.... The integrity of auditors formulates trust thereby offering a foundation for dependence on their judgment.... Rotation of auditors would help to promote objectivity and independence that in turn would help in preventing audit failures.... In addition, a regular change of auditors should be allowed in the regulations in order to prevent conflict of interests....
12 Pages
(3000 words)
It will generally be argued that the application of stringent rules and regulations in the aftermath of the global financial crisis has contributed a great deal to diligence on the part of auditors which has seen them perform their responsibilities more effectively.... From the foregoing, it is evident that while tightened rules and regulations have prompted auditors to perform their duties more diligently, they also have the capacity to raise managers' expectations of auditors, hence exacerbating the expectations gap....
8 Pages
(2000 words)
Essay