Essays Tagged: "Sarbanes–Oxley Act"
The needs and implications of the Sarbanes-Oxley Act of 2002
The needs and implications of theSARBANES-OXLEY ACT OF 2002GENERAL BACKGROUNDThe Enrons and Worldcoms made it clear that the ... ditor for both companies (Anderson) was convicted for obstruction of justice.The Sarbanes Oxley Act of 2002 was instigated as a direct result of the Enron, WorldCom and other accounting scandals i ... ct UK companies unless they are subsidiaries of US firms or are listed on US stock exchanges.The act combines bills originally drafted by US senator Paul Sarbanes and Congressman Michael Oxley. It ...
Subjects: Businesss Research Papers
Sarbanes - Oxley Act of 2002 and the Effect on the Business Environment
The Sarbanes - Oxley Act of 2002 is the most important piece of legislation since the 1933 and 34 securities exchange act ... y held corporations to the shareholders, while placing more responsibility on CEOs and CFOs for the actions of the corporation. "Sarbanes - Oxley is more than just another piece of legislation - it ha ... w the chairman of the House Committee of Financial Affairs.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 ...
Subjects: Businesss Research Papers
Enron, WorldCom, HIH, Qantas NZ, etc-Corporate governance failure!
ts that took place in the range of worldwide has made globe stock markets suffered and seriously impacted the world's financial foundations and investors' confidence. To seek solutions of the crisis, ... rpose of compromising investor confidence and weakened financial markets. Among, the Sarbanes-Oxley Act of 2002 signed by President George W. Bush in the United Sates is prominent to respond governanc ...
Subjects: Businesss Research Papers > Management
Final Questions of IT for the global manager
Theme 1: Role of the CIOWhat CIO characteristics do you think were important in this hiring decision?The Sarbanes Oxley Act requires the ... Kinsey and rapidly advanced to the position of Associate Principal within the Business Technology practice. This made him an obvious candidate for the job.Source: Information Week August 17th, 2004 Be ... Provide the technological framework and support to allow the SEC to comply with the Sarbanes Oxely Act and other regulatory bodies.The Priorities to meet these objectives would be to:1) Assess the cu ...
Subjects: Businesss Research Papers > Management
"Enron Collapse": The causes for the collapse of Enron Corporation.
inancial scandals has brought about a web of new reforms and regulations such as the Sarbanes-Oxley Act, which was signed into law on July 30th, 2002. We are forced to ask ourselves if it will happen ... top-level executives who successfully managed to destroy the company's reputation and achievements. Actually, the company has been in business for more than 20 years and was once well known for being ...
Subjects: Businesss Research Papers > Case Studies
US FIN 324 - Internal Controls Paper
companies like them, the government has stepped in and created legislation under the Sarbanes-Oxley Act of 2002 which included a regulation for internal controls. Good internal controls are important ... ey help companies meet any applicable laws/processes as outlined by the government and accounting practices and to ensure accurate and timely reporting. These internal controls can be extremely effect ...
Subjects: Businesss Research Papers > Management
Ethics in Accounting
Corporate Executives And Auditors Try on Sox', article from Business Credit magazine discuss the impact of Sarbanes-Oxley Act (SOX) of 2002 has on large pubic Corporation today.Perhaps it is time for ... . This are article discuss several cases of accounting and securities fraud with emphasis of the impact it has on ethics in accounting today.Upon comparing my present employer to concepts in this arti ...
Subjects: Businesss Research Papers > Accounting
Case Study: General Electric Company and 3M Worldwide
AbstractThis paper will provide a high level overview of the General Electric (GE) and Minnesota Mining a ... crutiny by shareholders, analysts, and the general public.As a result of the Federal Sarbanes-Oxley Act of 2002, some states have imposed requirements on publicly traded corporations to disclose infor ... diversified technology and services company, and among other things, is engaged in developing, manufacturing and marketing a wide variety of products for the generation, transmission, distribution, co ...
Subjects: Businesss Research Papers > Case Studies > Computer and Electronics Companies
Functions of Auditing
apply to financial, operational, and compliance audits, explain the effect that the Sarbanes-Oxley Act of 2002, and the Public Company Accounting Oversight Board (PCAOB) will have on audits of public ... cly traded companies, and discuss the additional requirements that are placed on auditors from this Act as well as the actions of the PCAOB.Auditing is the process by which economic events and process ...
Subjects: Law & Government Essays
The Importance of Internal Controls
ionship between ethics internal control techniques, as well as the importance on the Sarbanes-Oxley Act.Corporations and Joe's Diner both require records of their operating activities, however, fewer ... there was a lack of effective internal control techniques. Methods and procedures authorizing transactions and safeguarding the company's assets could have been established by the Board, and then fol ...
Subjects: Businesss Research Papers > Accounting
Movie: Enron – The Smartest Guys in the Boardroom: Enron power and politics paper
red, and what it is still doing to the business world today. It brought corporate fraud and illegal activities at work to the forefront of the business world and made everyone on edge regarding audits ... veryone on edge regarding audits and corporate compliance. Because of Enron, we are now seeing such acts as the Sarbanes-Oxley Act go into effect and there are more and more internal compliance system ...
Subjects: Businesss Research Papers > Management
Impact of Unethical Behavior
nd responsibility (Wkipedia, 2007). This paper will discuss an example of how unethical behavior impacts business and how the Sarbanes-Oxley Act has established new or enhanced standards for accountin ... executives. Although top level executives at Enron were likely aware of the debt and the illegal practices, the fraud was not revealed to the public until October 2001 when Enron announced that the c ...
Subjects: Businesss Research Papers > Case Studies
Full Disclosure Paper
and costs that must be observed to allow reporting to realistically be provided. The Sarbanes-Oxley Act of 2002 (SOX) regulates publicly traded companies with many requirements. Even if information is ... or making financial decisions in a timely basis. This allows users to take advantage of the simple fact that the reporting is available and provides tangible benefits. That information is also require ...
Subjects: Businesss Research Papers > Accounting
Federal Rules and Regulations that apply to Techno Products, Inc.
IntroductionUnder the federal rules and regulations, the Security Act of 1933 governs the initial issuance and registration of securities, as opposed to the Securitie ... f securities. The enforcement authority given by Congress allows the SEC to bring civil enforcement actions against individuals or companies found to have committed accounting fraud, provided false in ... exchanges, utility holding companies, investment trusts, and investment advisers.The Sarbanes-Oxley Act was signed into law on July 30, 2002. Sarbanes-Oxley is considered the most significant change t ...
Subjects: Businesss Research Papers > Case Studies
Ethics Article Review
but rather the conflict of interest issues that have arisen in the past. The author mentions the practice of hiring auditors for positions in the accounting and a finance department after the audit i ... because of lucrative non-audit business between firms. As Martin (2007) states, "the Sarbanes-Oxley Act of 2002 addressed several of these potential sources of conflict." The article goes on to discus ...
Subjects: Businesss Research Papers > Accounting
Sarbanes-Oxley Act and HealthSouth
s, accounting scandals have caught public attention and forced companies to examine their ethical practices in this area. One of the great examples of today is Richard Scrushy, CEO of HealthSouth, who ... ions of the company's financial status to meet the Wall Street's expectations. Thus, Sarbanes-Oxley act was enacted in response to HealthSouth and several other recent episodes including abuse of powe ...
Subjects: Businesss Research Papers > Case Studies
HealthSouth: A Case Study of Business Ethics
becoming more and more visible to the public, the U.S. government has had to step in and take some actions. These actions came in the form of the Sarbanes-Oxley Act of 2002 which defined a lot of the ... O of HealthSouth, was the first and only CEO to be tried and now convicted under the Sarbanes-Oxley Act of 2002.Richard Scrushy and HealthSouthBorn and raised in Selma, Alabama, Richard Scrushy was ju ...
Subjects: Businesss Research Papers > Case Studies
Accounting Scandals in the early 2000s
.What major changes occurred as a result of the accounting scandals at that time?The Sarbanes Oxley Act of 2002 (SOX) was created in response to the large corporate scandals, including Enron. SOX was ... BusinessWeek website: http://www.businessweek.com/magazine/content/02_04/b3767712.htmSarbanes-Oxley Act of 2002. Retrieved August 24, 2007, from AICPA website: http://thecaq.aicpa.org/Resources/Sarban ...
Subjects: Businesss Research Papers > Accounting
The Public Company Accounting Oversight Board
The Sarbanes-Oxley Act created the Public Company Accounting Oversight Board (PCAOB) to assume the responsibility of ov ... ertified public accountant. However, if the chairman is one of the CPAs, they may not have been a practicing CPA for at least five years. The organization has a staff of over 500 and its headquarters ... . The PCAOB has been given many powers and responsibilities under section 101 of the Sarbanes-Oxley Act. They have the power to register public accounting firms that prepare audit reports for public c ...
Subjects: Businesss Research Papers > Accounting
Ethics in Accounting
s to reduce the risk of litigation.In 2002 the government stepped in and created the Sarbanes-Oxley Act. The Sarbanes-Oxley Act was created to protect investors from corporate accounting fraud. The Sa ... the most significant changes to United States securities laws since the New Deal in the 1930s. The ACT gives additional powers and responsibilities to the U.S. Securities and Exchange Commission. The ...
Subjects: Businesss Research Papers > Accounting