We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Sarbanes Oxley Act - Essay Example

Comments (0) Cite this document
Summary to essay on topic "Sarbanes Oxley Act"
The scandals such as Enron and world.com have given a new dimension to the corporate scandals in the history of United States. Due to the collapse of the Enron Corporation the notion of the off-balance financing or non-recognition of external funding on the financial statements of issuing company has gained much importance…
Download full paper
Polish This Essay
Sarbanes Oxley Act
Read TextPreview

Extract of essay "Sarbanes Oxley Act"

Download file "Sarbanes Oxley Act" to see previous pages... The degree of disclosure of financial information is also a main reason. Mostly the corporate running bodies do not find them answerable in front of any regulatory body; therefore they keep on trying 'innovative' ideas for which others have to pay. (Maclean, 2005)
Financial information in the form of audited accounts can prevent the system slipping into corruption (Sunlight is the best detergent),
Let us write or edit the essay on your topic "Sarbanes Oxley Act" with a personal 20% discount.. Try it now
but it is not clear why, for example, a superior US financial reporting infrastructure did not help us detect Enron.
The Sarbanes-Oxley Act of 2002, Pub. L. No. 107-204, 116 Stat. 745 (July 30, 2002), is a United States federal law also known as the Public Company Accounting Reform and Investor Protection Act of 2002 (and commonly called SOX or SarbOx). With the major financial reforms in most of the countries of the world the Sarbanes-Oxley Act was passed in the United states in order to deal with the issues such as establishment of the public company, the level of auditor's independence, proper monitoring of the accounting practices of the company under a board, corporate social responsibility and enhancement in the financial disclosure to the prescribed level by the act. The law is seen as the major reform in the after the New Deal passed in 1930. The act revolutionized United States securities laws. The House approved act with the majority of 423-3 and Senate by 97-0. The act increased the U.S. Securities and Exchange Commission powers.
The Sarbanes-Oxley Act's requires the companies to make their financial reports certify by the chief executive officers and chief financial officers. According to the act the Executive officers and directors are not allowed to take personal loans. The act prescribed the companies for the extended disclosure of the financial information in order to improve the shareholders and stakeholders accountability. The act also increased the jail sentence duration and increased the fine amount in case of violence of the securities law or misuse. The corporate executives misstating the financial information will also have to face increased sentence time duration and higher amount of penalties. The act also prohibited the audit firms to provide any services additional to that of the auditing to the companies they are working for. The compensation of the Chief executives and other higher executives are also required to be reported. The act also accelerated reporting of trades by insiders and prohibition on insider trades during pension fund blackout periods. (Wikipedia, 2006)


Maclean, P., (2005). Power Play - Robert McCullough was interviewed for an article covering Enron's role in the California power crisis and its aftermath, Portland Monthly, May 2005, Retrieved 05/005/06 from

Wikipedia, (2006). Sarbanes-Oxley Act, Retrieved 05/005 ...Download file "Sarbanes Oxley Act" to see next pagesRead More
Cite this document "Sarbanes Oxley Act"
  • APA
  • MLA
(“Sarbanes Oxley Act Essay Example | Topics and Well Written Essays - 2000 words”, n.d.)
Sarbanes Oxley Act Essay Example | Topics and Well Written Essays - 2000 words. Retrieved from https://studentshare.org/miscellaneous/1503489-sarbanes-oxley-act
(Sarbanes Oxley Act Essay Example | Topics and Well Written Essays - 2000 Words)
Sarbanes Oxley Act Essay Example | Topics and Well Written Essays - 2000 Words. https://studentshare.org/miscellaneous/1503489-sarbanes-oxley-act.
“Sarbanes Oxley Act Essay Example | Topics and Well Written Essays - 2000 Words”, n.d. https://studentshare.org/miscellaneous/1503489-sarbanes-oxley-act.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
Sarbanes-oxley act 2002
It is the system by which companies are directed and controlled in the interests of shareholders and other stakeholders. These major collapses caused a great concern for shareholders and investors around the globe resulting in a huge decrease in the confidence of both the shareholders as well as the investors.
2 Pages(500 words)Essay
Sarbanes Oxley Act
In the US Senate, the Sarbanes Oxley Act is commonly referred to as the Public Company Accounting Reform and Investor Protection Act (Shakespeare 333). In the House, the act is commonly referred to as the Corporate and Auditing Accounting and Responsibility Act.
3 Pages(750 words)Research Paper
Sarbanes-Oxley Act
Additionally, this study revealed that the formation of Public Company Accounting Oversight Board (PCAOB) under the Sarbanes-Oxley Act also resulted in strengthening the regulations to a next higher level and ensuring better professional credibility thereafter.
4 Pages(1000 words)Essay
Sarbanes Oxley Act
Scenario 2 wished to establish whether or not a CFO or CEO is liable for using their respective position to influence an "audit report" of a public corporation. This can be explained by title XI on fraud accountability. It specifies that tampering and fraud of financial records either by overstatement or understatement attracted a penalty. This may lead to an extent of freezing payment which seems either overstated or understated.
4 Pages(1000 words)Essay
Sarbanes Oxley Act Master Essay
The Act recognizes that companies need strong internal financial controls and knowledgeable and independent directors and audit committees to oversee their management and auditors. It seeks to avoid actual or perceived conflicts of interest of outside auditors and encourages companies to adopt formal codes of ethics promoting honest and ethical conduct, appropriate handling of conflicts of interest, accurate financial reporting and compliance with governmental rules and regulations.
25 Pages(6250 words)Essay
Sarbanes-Oxley Act
What has caused this downhill slip aside from the terrorist’s deliberate attack weaken the economy? Enron Corporation is in Energy commerce, involved in electric utilities and power gas
8 Pages(2000 words)Essay
Sarbanes Oxley Act
In fact, especially for nonprofit entities, the provisions of the SOX may very well directly apply to them. SOX requirements such as the establishment of an audit committee, good governance, adequate financial
4 Pages(1000 words)Essay
Sarbanes-Oxley Act
The Sarbanes- Oxley Act or the Sarbox Act is an Act of Investor Protection as well as Reform of Public Company Accounting. It was enacted in mid-year 2002. This was subsequent to
2 Pages(500 words)Essay
Sarbanes-Oxley Act of 2002
ch as Enron, Tyco and WorldCom committed frauds duping public and investors, the SEC was given more powers under a new Act called the Sarbanes-Oxley Act (SOX) of 2002. The Sarbanes-Oxley Act of 2002 was drafted by Senator Paul Sarbanes and Michael Oxley. The US Congress enacted
2 Pages(500 words)Essay
Assignment: Sarbanes-Oxley Act
Ideally, the presence of audit failures and the resulting lack of confidence in the American public market led to the establishment of the Sarbanes-Oxley Act of 2002. Although implementing the regulation requirements of the Sarbanes-Oxley
4 Pages(1000 words)Assignment
Let us find you another Essay on topic Sarbanes Oxley Act for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us