1995. Lupack, Alan and Lupack, Barbara Tepa. 20 October 2003. <http://www.lib.rochester.edu/camelot/galmenu.htm> - “Sir Galahad.” Early British Kingdoms. 2001.
2002. China & the WTO. 26 Nov. 2004. <http://www.ihlo.org/item3/item3d-5.htm>. “The World Trade Organization…..” April 2003.
Public Company Accounting Oversight Board; Will it Protect Investors? The Public Company Accounting Oversight Board (PCAOB) was created by Sarbanes-Oxley Act of 2002. This board was created to oversee the audit of public companies, subject to the securities laws, in order to protect the interests of investors (15 USC 7201, 2002). It was created in wake of the recent financial scandals of Enron, WorldCom, and Global Crossing to name a few. This “Act” established by Congress is to create an oversight board, so that such scandals will never occur again.
Nyberg, A. (2003, September). The true cost of Sarbanes-Oxley compliance. CFO, 19(11), 57. Williams, P. (2003, April).
Retrieved August 8, 2005 from the ProQuest Database. Nimwegen, T., Soeters, J. & vanLuijk, H. (2004). Managing Values and Ethics in an International Bank. April 2004.
In the early part of the twentieth century companies did not have the sophistication and abilities of the modern company in regard to information technology, number of accountants, advisors and analysts. This legislation is a big step toward keeping U.S. law up to date with modern business practices. The Sarbane-Oxley Act was necessary to protect the U.S. economy and restore investor confidence after the many years of dishonest business practices by ENRON, WORLDCOM, TYCO and other companies. The practitioners of shady accounting and greed brought about a collapse in stock prices, shook investor confidence and hurt the credibility of all publicly traded companies. A mass "bail-out" by large stockholders ensued; however the average small investor held on, hoping that the stock would stabilize and believing the reassurances of companies, that claimed they were financially well-off when they were actually worth less than what they owed.
Securities and Exchange Commission (2003). Final Rule: Standars Relating to Listed Company Audit Committees. October 4, 2003. Retrieved 14 September 2008 from: http://www.sec.gov/rules/final/33-8220.htm
Ancher Public Trading TO: Board of Directors FROM: Learning Team A consultants DATE: August 22, 2005 SUBJECT: Sarbanes-Oxley recommendations As consultants for Ancher Public Trading (APT), Learning Team A would like to discuss the implications of the Sarbanes-Oxley (SOX) legislation. This memorandum provides a brief history of SOX¡¦s creation, explains the relationship amongst the FASB, SEC and PCAOB, describes the pros and cons of SOX, assesses the impacts of SOX, and lists ethical considerations of SOX. History of SOX - the Sarbanes-Oxley Act of 2002 is legislation in response to the high profile financial scandals, such as seen with Enron and WorldCom. The purpose of this act is to protect shareholders and the general public from accounting errors and fraudulent business practices. The Sarbanes-Oxley Act introduced stringent new rules to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws.