Running Head: The Sarbanes-Oxley Act of 2002
The Sarbanes-Oxley Act of 2002
Jason Ma, MBA, DBA
Table of Contents
The Sarbanes-Oxley Act 3
Negative Effects of SOX 4
Changes in Education, Post-SOX 5
The Sarbanes-Oxley Act
The Sarbanes-Oxley Act, also known as the Public Company Accounting Reform and Investor Protection Act of 2002, was a congressional retort to a plethora of major corporate and accounting scandals that included companies such as Enron, Tyco International, Adelphia, Peregrine Systems, HealthSouth, and WorldCom. Senator Sarbanes and Representative Oxley initially created this act in light of these wide spread corporate scandals. The Sarbox, at it is commonly called, is an act that sets guidelines to increase proper accounting practices and reduce inaccurate financial reporting from public companies. Confidence in these companies drives consumers to invest their money, therefore, driving the economy of our country (simple version). If people lose faith in these large corporations, the entire nation could and mostly would, feel a huge economic impact. These standards are an effort to ensure consumers that these companies are transparent in their finances and an accurate evaluation can be made based on their financial position.
Many think that all professionals should be held to a higher standard in their given fields. They are called “professionals” for a reason. Two professions whose principles are known by most are medicine and law. Ethics is of utmost importance in both of these fields. When a persona obtains an advanced level of education, they normally become leaders in our commu...
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...014) Before and after Sarbanes-Oxley - learning to live with change, Retrieved October 28, 2014 from: http://www.accountingweb.com/item/105614
Johnson, Grace F. 2005. “The Sarbanes-Oxley Act and Undergraduate Courses: A
Study of Current Practice.” The CPA Journal 75.8 (August): 68(2).
Longmire, Lyndsey. (2008). The Impact of the Sarbanes Oxley Act in American Universities. Retrieved October 29, 2014 from: http://126.96.36.199/search?q=cache:mlnFmzvx0FoJ:www.crrconference.org/downloads/2006longmirestanwick.pdf+impact+of+Sarbanes-Oxley+Act+of+2002+on+Accounting+education&cd=3&hl=en&ct=clnk&gl=us
UPenn. Lawyers and Accountants Can Expect Curbs and Compromises in New SEC Rules. (2013). Lobby Watch. Retrieved October 29, 2014 from: http://knowledge.wharton.upenn.edu/article.cfm?articleid=707&CFID=6518866&CFTOKEN=70945606&jsessionid=a830a47ddbc98e55733d5e52a385d21277e5
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- Running Head: The Sarbanes-Oxley Act of 2002 The Sarbanes-Oxley Act of 2002 John Webb FINC 620 Jason Ma, MBA, DBA Table of Contents The Sarbanes-Oxley Act 3 Negative Effects of SOX 4 Changes in Education, Post-SOX 5 Conclusion 6 References 7 The Sarbanes-Oxley Act The Sarbanes-Oxley Act, also known as the Public Company Accounting Reform and Investor Protection Act of 2002, was a congressional retort to a plethora of major corporate and accounting scandals that included companies such as Enron, Tyco International, Adelphia, Peregrine Systems, HealthSouth, and WorldCom.... [tags: Internal control, Enron, Sarbanes–Oxley Act]
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1027 words (2.9 pages)
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