Discuss the following based on chapter 1. Be complete and specificCreate a post (250 words minimum)...

Question

Discuss the following based on chapter 1. Be complete and specificCreate a post (250 words minimum) relating the researched information to the material presented in the chapter. You must have at least one non-textbook reference. Be sure to use APA format for all references. Refer to the "What is expected of online discussions?" section for expected criteria and grading rubrics.  	List three key provisions of the Sarbanes-Oxley Act of 2002. Order your list from most important to least important in terms of the likely long-term impact on the accounting profession and financial reporting. 
	
Document Preview: Discuss the following based on chapter 1. Be complete and specificCreate a post (250 words minimum) relating the researched information to the material presented in the chapter. You must have at least one non-textbook reference. Be sure to use APA format for all references. Refer to the "What is expected of online discussions?" section for expected criteria and grading rubrics.List three key provisions of the Sarbanes-Oxley Act of 2002. Order your list from most important to least important in terms of the likely long-term impact on the accounting profession and financial reporting.

David · Accepted Answer

Key Provisions of Sarbanes Oxley Act                                                                                     1
Key Provisions of Sarbanes Oxley Act
Key Provisions of Sarbanes Oxley Act                                                                                     2
Introduction 
After different scandals that took place in United States concerning different companies 
such as Enron, WorldCom, Tyco etc., the government of America enacted the Sarbanes-Oxley 
Act in the year 2002 which focused on protection against accounting frauds and different 
financial malpractices. It focuses on bringing accurate and reliable picture of the company. The 
companies need to present its financials accurately. The act focused on the accuracy of the 
financial reporting and made the management of the firm personally responsible for the accuracy 
of the financial system. 
The Sarbanes-Oxley Act of 2002, is propounded by the sponsor Paul Sarbanes and its 
Representative Michael G. Oxley. This law is designed by being influenced from the financial 
scandals prevalent in economy, such cases are Enron and WorldCom. This law is designed with 
an objective to formulate the strict standards against all US publicly traded companies. Securities 
and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB), 
which has an obligation to oversee,

Discuss the following based on chapter 1. Be complete and specific Create a post (250 words minimum) relating the researched information to the material presented in the chapter. You must have at...

Solution

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment