Overview of the Sarbanes-Oxley Act (SOX)

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The Sarbanes-Oxley Act, frequently known as the SOX. The act was passed on in 2002 as a federal United States law. The law was drafted in response to the numerous numbers of financial scandals performed by high profile corporations such as Johnson & Johnson. The action has created a new company standard of responsibility in order to protect the valued stakeholders, as well as the public, from the deceitful practices of various organizations. The Sarbanes-Oxley Act requires companies to implement and adhere to the widespread procedures that prevent prohibited activities within the company and to act in response to any unlawful action investigations without impediment; its chief function is to defend the public by improving the consistency and accuracy of the corporate disclosures. This action enhances corporate accountability while at the same time safeguard the rest. Sarbanes-Oxley Act of the year 2002 which is the law that has the need of economic disclosures by the traded businesses. a number of most excellent practices of the SOX for instance internal management of the reports, greater part of the self-governing executives, whistle blowing agendas, compulsory inspection committee, policy of the business behaviors in addition to the principles be relevant to the for profit as well as to not for profit healthcare businesses . Completion of the SOX provisions is something which is beneficial for equally the profit plus non profit healthcare grou... ... middle of paper ... ...as well as reviewing. Works Cited Act, S. O. (2002). Sarbanes-Oxley Act. Washington DC. Cascini, K. T., & DelFavero, A. (2011). An Assessment of the Impact of the Sarbanes-Oxley Act on the Investigating Violations of the Foreign Corrupt Practices Act. Journal of Business & Economics Research (JBER), 6(10). Johnson, R. (2007). Whistling While You Work: Expanding Whistleblower Laws to Include Non-Workplace-Related Retaliation after Burlington Northern v. White. U. Rich. L. Rev., 42, 1337. Kim, Brian. "Sarbanes-Oxley Act." (2003): 235. Kress, L. E. (2009). How the Sarbanes-Oxley Act Has Knocked the SOX off the DOJ and SEC and Kept the FCPA on Its Feet. Pitt. J. Tech. L. & Pol'y, 10, 1. McLaughlin, C. P., Johnson, J. K., & Sollecito, W. A. (2012). Implementing continuous quality improvement in health care: A global casebook. Sudbury, Mass: Jones & Bartlett Learning.
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