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Assignment: Sarbanes-Oxley Act
Due Week 7 and worth 250 pointsReview the guide to the Sarbanes-Oxley Act located at http://www.soxlaw.com/ prior to completing this assignment.
Write a four to six (2-3) page paper in which you:

Evaluate the effectiveness of regulations such as Sarbanes-Oxley Act over minimizing the corporate fraud and protecting investors and make one (1) suggestion for improvement.
Given the oversight of the accounting profession by the PCAOB as a result of the Sarbanes-Oxley Act, assess the impact on auditing firms and the public accounting professions.
Offer your opinion as to whether or not you believe the accounting profession is better off being self or government regulated with regard to a firm’s ability to detect and report corporate fraud. Support for your position.
Predict whether or not corporate fraud will be reduced, increase, or remain the same based on requirements for audits of publicly traded companies as prescribed in the Sarbanes-Oxley Act. Support your position.
Use at least four (4) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.
Your assignment must follow these formatting requirements:

Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:

Evaluate effective internal controls that minimize audit risk and potentially reduce the risk of fraud.
Use technology and information resources to research issues in auditing.
Write clearly and concisely about auditing using proper writing mechanics.Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills.
Click here to review the grading rubric.

David · Accepted Answer

Sarbanes Oxley Act                                                                                                      1 

Sarbanes Oxley Act 
Student’s Name: 
Professor’s Name: 
Course Title: 
Date:
                    Sarbanes Oxley Act                                                                                                      2 
 
Sarbanes Oxley Act 
Sarbanes-Oxley Act of 2002 is the act passed by the Congress of United States in the year 
2002 with an intention to protect the investors from the possibility of fraudulent accounting acts 
which are conducted by corporations. The act made certain strict reforms which are to be 
compulsorily followed by the corporations so as to prevent the accounting fraud and improve the 
disclosure made by the corporations. The act was the result of the accounting scandals like 
Enron, Tyco, and WorldCom in the early years of 2000. These scams shook the confidence of 
the investor in financial statements and demanded the need for overhaul regulatory standards.  
The main benefits from the Sarbanes Oxley Act are that it helps to upgrade the quality of 
control process, prevent fraudulent activities in an organization and maintain the shareholders 
trust. The act aims to achieve the transparency in the operation of companies. The act requires 
the alliances of the IT, finance and operating divisions of an organization.

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