Description
Discuss and debate amongst your classmates the following:
- The history and reason for passage of the Sarbanes-Oxley Act (SOX).
- An evaluation and defense(or critique) of the efficacy of SOX.
- How SOX has impacted:
- Public companies
- Managers and officers of public companies
- Auditors of public companies
- Tax practitioners
- Nonprofit and privately owned companies
Submit a 350- to 700-word summary of your discussion. Each team member must submit their own summary, as points for this assignment will be assigned individually.
Explanation & Answer
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Running Head: SARBANES-OXLEY ACT (2002)
1
The Sarbanes- Oxley Act (SOX) OF 2002
Author
Institution
SARBANES-OXLEY ACT (2002)
2
SOX was passed by the congress in response to a crisis of accounting and governance
failures including the Enron Bankruptcy, Tyco International and the others. The Act was passed
to show that something was being done to curb the corporate fraud and it was deliberated to
safeguard the interests of the investing public. SOX contains provocative provisions which were
created in bid to make a total modification of the governing structure for the public accounting
a...
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