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The Sarbanes-Oxley Act of 2002

There are not been any information accurately proving that SOX has actually did what it was set out to do (Maleske, 2012).
             Effectiveness of SOX Against Fraud.
             The Sarbanes-Oxley Act of 2002 have somewhat changed public companies, which is undisputable. The Sarbanes-Oxley Act of 2002 commanded countless internal control of financial reporting, it improved proficiency and independence between better attentive boards, commissions and managements. SOX also obligated new reporting, audit, admission and ethics requirements, and generated internal reporting and whistleblower assemblies which assisted in influencing the Dodd-Frank Wall Street Reform and Consumer Protection Act. The net effect of the Sarbanes-Oxley Act of 2002 was considered to be too much of an implement. The legislation was not groundbreaking in a sense of the functional deviations it made. The current laws into play that contained the important doctrines, obligations and expectations for corporate governance were essentially unaffected, but people were still unaware of how it could protect and benefit them. The Sarbanes-Oxley Act off 2002 made it justifiable that people would have to be aware and pay closer attention to it. SOX is believe to be by many that it was only revolutionary in a sense of the attitudinal and national change that predominantly practical guidelines it presented instigated to occur within the community of public companies and the lawyers that work for them (Maleske, 2012).
             The most projecting change the Sarbanes-Oxley Act of 2002 engendered was a shift from a standpoint that the board serves management to a standpoint that organizations are working for the board. The Sarbanes-Oxley Act of 2002 also documented that director independence is essential for the board to operate efficiently involving management. SOX consents for director liability if the board does not implement the applicable misunderstanding of oversight.


Essays Related to The Sarbanes-Oxley Act of 2002

1. Legislation of The Sarbanes-Oxley Act of 2002

After the controversial scandals of organizations such as Enron, WorldCom, and Tyco, the Sarbanes-Oxley Act became law and procedure on July 30, 2002. ... Altogether, the Sarbanes-Oxley Act of 2002 has imposed tremendous new duties and cost on public companies and accounting firms, while the people involved are still unaware about whether the money, time and focus on the Sarbanes-Oxley Act of 2002 are worth the benefits that were sacrificed. ... Effectiveness of SOX Against Fraud The Sarbanes-Oxley Act of 2002 have somewhat changed public companies, which is undisputable. ... The net effect of...

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2. Computer Security

Some of these acts include: the Patriot Act, the E-Government Act, and the Education Reform Act. ... E Government Act The passage of the E-Government Act of 2002 displayed great initiative by our government during the expansion of the Internet. ... Patriot Act of 2002 In the light of war and terrorism, many Americans are becoming ever-increasingly apprehensive as to what our government is doing in order to prevent another tragedy such as September 11th from repeating itself. With these growing concerns, came the ratification of the USA Patriot Act of 2002. ... Education Sciences Reform ...

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3. Age Discrimination

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4. Campaign

The Senate passed the House version of Bipartisan Campaign Reform Act by a vote of 60-40. ... On March 27, 2002 President Bush signed into law the new Bipartisan Campaign Reform Act of 2002. ... The act also provides a new definition of campaign ads versus issue ads. ... Later the Senate approved the House version on March 20, 2002. ... The Supreme Court with the ruling of 5-4 declared it constitutional and hence the Bipartisan Campaign Reform Act of 2002. ...

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5. Popular Culture and Schooling

"Every new media changes us" (Jan 5 2004, notes), it changes the way we look, and the way we act. ... (Nelson 2002, pg 68). In turn, television presents a curriculum, it teaches us how to act how to discriminate and how to present ones-self. ... (Nelsen 2002, pg 99) Thus, completely adding disregard to the "say no to drugs" slogan. ... (Nelsen 2002, Schooling as Entertainment, Cedarcreek Publications, Kingston Ontario) ...

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6. Biotech Food Labels Act of 2002

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7. Sarbanes-Oxley Act

On July 30, 2002 President Bush signed the Sarbanes-Oxley Act of 2002. ... (Kadlec, 2002) ii. ... (Kadlec, 2002) iv. ... (Kadlec, 2002)To prevent future catastrophes, the Sarbanes-Oxley Act was created. ... (Forbes, 2002 September 10) The act of limitations has also been increased from 1 year from the discovery of fraud to two years and the limitations on the act have been increased to 5 years from 3 years. ...

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8. Sarbanes-oxley Act

The Sarbanes - Oxley Act of 2002 was signed into law in July 2002. It makes the most significant changes in corporate governance since the Securities Act of 1933 and the Securities Exchange Act of 1934. ... Part of the charge was under "the executive certification" clause of the Sarbanes - Oxley Act. ... The Sarbanes - Oxley Act of 2002 was government's intervention into market problems caused by the bankruptcy of Enron and WorldCom. ... (Winter 2002). ...

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9. The Sarbanes-Oxley Act

Introduced in July 2002, caused a major change in corporate governance and in the financial areas of business in U.S exchange. Previous to this act, many businesses were involved or associated with extortion, leading to the act that will attempt to re-gaining the confidence of investors The Sarbanes-Oxley Act "Public Company Accounting Reform and Investor Protection Act of 2002" (in the Senate) and also called "Corporate and Auditing Accountability and Responsibility Act" (in the House), the Sarbanes-Oxley Act was approved by the House by a vote of 334 to 90 and also appr...

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