Description
Explanation & Answer
Attached.
Outline
The Sarbanes Oxley Act
Thesis statement: The act was passed in the year 2002 by the US Congress as a way of
protecting investors from fraudulent accounting practices by companies. The act created strict
reforms in the company reporting in order to improve the level of disclosure.
I.
Company reforms
The act provided that the top executives who are the CEO and the CFO are supposed to
certify all the financial statements of their company. This was to put an end to the transfer of
blame that normally happens when a company has been caught with malpractices in their
reports
II.
Audit firms r...
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