Week 4 Individual Assignment: Sarbanes-Oxley and Corporate Governance Paper, management homework help

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Business Finance

Description

This assignment requires the students to apply the governance requirements of the Sarbanes-Oxley Act of 2002 to a managerial business setting. Students must analyze specific SOX requirements in terms of a cost versus benefit analysis.

Resources Required

Case 15.3 Free Enterprise Fund v. Public Company Accounting Oversight Board in Ch. 15 of The Legal and Regulatory Environment of Business

Read "Case 15.3 Free Enterprise Fund v. Public Company Accounting Oversight Board" in Ch. 15 of the text.

Write a paper of 700- to 1,050-words in which you answer the following:

  • If auditing of financial statements is required for the protection of public investors, should not all PCAOB members be taken from the investment community that uses audited financial statements? Why or why not?
  • How does the decision in this case impact the validity of the Board and other provisions of the Sarbanes-Oxley Act?

Cite at least 3 peer-reviewed sources, identified and defined in the Instructor Policies (Spiering, 2016, Researching Assignments).

Format your paper consistent with APA guidelines.

Click the Assignment Files tab to submit your assignment.

Required elements

Students earn their grades based on the Grade Rubric. It will be inserted with comments at the end of each graded paper, along with other specific comments inserted directly into the paper itself. A grading scale (i.e. A -F) is provided in the Instructor Policies (Spiering, 2016). So, students earn high grades by satisfying each bullet point in each section - Content, Organization/Development and Mechanics.

Please note that the Mechanics section of the Grade Rubric requires the integration of research in APA format, including in-text and reference citations.

Click the Assignment Files tab to submit your assignment.

Grade Rubric for Week 4 Individual Assignment: Sarbanes-Oxley and Corporate Governance Paper

Content 60 Percent

6 Points

Score

Additional Comments:

  • The paper includes a discussion of the appointment of PCAOB members and whether or not they should be taken exclusively from an investment community that uses audited financial statements.
  • Paper includes a discussion of how the decision made in the case affects the validity of the board and other provisions of the Sarbanes-Oxley Act.

Organization / Development 20 Percent

2 Points

Score

Additional Comments:

  • The paper is between 700 to 1,050 words in length.
  • Easy to identify next topic of discussion - APA-formatted [sub]headings, and transitional sentences and paragraphs are used throughout paper.
  • Logical content development, e.g., introduce, define, explain, and apply concepts.
  • Sentences and phrases are well constructed, strong, and varied.
  • Appropriate tone - use of objective, 3rd person writing is encouraged.

words

Mechanics 20 Percent

2 Points

Score

Additional Comments:

  • Professional appearance - same font size, type, and spacing used throughout paper.
  • The paper--including tables and graphs, headings, title page, and reference page--is consistent with APA formatting guidelines and meets course-level requirements.
  • Intellectual property is recognized with properly formatted in-text citations and a reference page.
  • Rules of grammar, usage, and punctuation are followed. Spelling is correct.
  • At least 3-5 APA references, which should include the course text and 3 peer-reviewed documents. Students are encouraged to cite the relevant weekly reserve readings.

Total

Score

10

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Explanation & Answer

Here is the assignment completed, I am readily available in case of anything. Bye for now Great

Sarbanes-Oxley and Corporate Governance
Name
Institution

Sarbanes-Oxley and Corporate Governance
AS a result of corporate outrages involving substantial open organizations the Sarbanes-Oxley
Act was put into law in July 2002. The reason for this demonstration was to recapture trust and
fabricate trust out in the open organizations. The Sarbanes-Oxley Act requires open
organizations to have reviews, have inside controls, set obligation for chiefs to guarantee money
related exactness and to fortify straightforwardness and revelations. Shutting the hole between
open organizations and financial specialists additionally settled stricter criminal punishments for
misrepresentation.

The making of the Public Company Accounting Oversight Board (PCAOB), alongside the
arrangement and expulsion make this board an administration office. Be that as it may, the
PCAOB individuals serve five years and are not considered government representatives. This
enables the board individuals to take showcase pay rates in contrast with the private segment.
The positive is that these board individuals are considered specialists in their fields with track
records in the commercial center.
In the event that reviewing of budgetary proclamations is required for the insurance of open
speculators, ought not all PCAOB individuals to be taken from the venture group that utilizations
inspected money related articulations? Reviewing of a business' monetary articulations is done to
secure open speculators by unveiling reality, and to hold organizations at risk when they don't
give exact data. PCAOB individuals ought not to be taken from the speculation group that
utilizations examined money related proclamations. The PCAOB individuals are the ones who
ensure open financial specialists. Nonetheless, changes are required. Unintended outcomes are
harming the economy. Issues emerge with how the controllers actualize, and how the reviewers
have translated the Sarbanes-Oxley Act and Section 404. The Securities and Exchange
Commission (SEC) worked with the PCAOB to think of arrangements. The SEC and PCAOB
thought of draft standards and chose to concentrate on the complexity of a business' money
related explanations. Despite the fact that they thought of a couple of answers for the issue, it
doesn't imply that the issue is settled.
Enforcement
To keep up the integrity and the mission set forth by the PCAOB there are implementation
organizations set up that go about as a check and adjust. As indicated by Jeanette M. Franzel,
"the Board has been building up a powerful, dynamic implementation program that looks to

distinguish potential instances of genuine examiner unfortunate behavior, explore them
completely and immediately, and prosecute the subsequent disciplinary activities. The
superseding objective is to guarantee that evaluator administrator, the SEC, which was controlled
by the president.
The impact of this decision on the validity of the Board was that it upgraded the presence of the
Board. The court noticed that the arrangement of the Board was reliable with the Appointment
Clause. Along these lines, the substandard officers were...


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