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Business Finance

Description

Regulatory Compliance and Governance

Purpose of Assignment

Corporate fraud has cost businesses and its shareholders millions of dollars and has been the source of legislation and regulations attempting to provide oversight and guidance to corporate boards, executives, and practitioners. Think about how these laws have changed the practices of corporate executives and, in light of the Enron scandal et al., has it been enough?

Assignment Steps

Resources: Legal Environment of Business: Online Commerce, Business Ethics, and Global Issues: Ch. 16 (pp. 364 -368), 22, and 23.

Scenario: The Sarbanes-Oxley Act (SOX) has been in effect since 2002 and has cost businesses millions of dollars in personnel and administrative costs. Your company is in the process of "going public," has underwritten its Initial Public Offering (IPO), and filed its registration statement with the Securities Exchange Commission. Your current executive team has asked you to create a plan ensuring SOX compliance is followed once you become a publicly traded company.

Review the pertinent sections of The Sarbanes-Oxley Act (SOX) Act. For purposes of this proposal to the board, only concern yourself with the compliance provisions of SOX (Sections 302, 401, 404, 409, and 802).

Create a maximum 1,050-word proposal to the board outling the compliance project necessary to implement SOX.

Cite a minimum of one reference for the five content areas taken from a business or legal resource. One resource must be from the University Library.

Format your paper consistent with APA guidelines.

Click the Assignment Files tab to submit your assignment as a Microsoft® Word document.

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Regulatory Compliance and Governance Grading Guide LAW/531 Version 12 Business Law Copyright Copyright © 2017 by University of Phoenix. All rights reserved. University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Regulatory Compliance and Governance Grading Guide LAW/531 Version 12 Edited in accordance with University of Phoenix® editorial standards and practices. 2 Regulatory Compliance and Governance Grading Guide LAW/531 Version 12 Individual Assignment: Regulatory Compliance and Governance Purpose of Assignment Corporate fraud has cost businesses and its shareholders millions of dollars and has been the source of legislation and regulations attempting to provide oversight and guidance to corporate boards, executives, and practitioners. Think about how these laws have changed the practices of corporate executives and, in light of the Enron scandal et al., has it been enough? Resources Required Legal Environment of Business: Online Commerce, Business Ethics, and Global Issues: Ch. 16 (pp. 364 -368), 22 and 23 Grading Guide Content Met Partially Met Not Met Total Available Total Earned 4 #/4 Partially Met Not Met Comments: Reviewed the pertinent sections of The Sarbanes-Oxley Act (SOX) Act. For purposes of this proposal to the board, only reviewed the compliance provisions of SOX (Sections 302, 401, 404, 409, and 802). Proposal to the board outlined the compliance project necessary to implement SOX. The paper is a maximum of 1,050 words in length. Writing Guidelines 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 in-text citations and a reference page. Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper. Met Comments: 3 Regulatory Compliance and Governance Grading Guide LAW/531 Version 12 Writing Guidelines Met Partially Met Not Met Total Available Total Earned 1 #/1 5 #/5 Sentences are complete, clear, and concise. Rules of grammar and usage are followed including spelling and punctuation. Assignment Total Additional comments: # Comments: 4
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Explanation & Answer

Here you go. In case of any further inputs, please let me know.All the best!I appreciate working with you!

Running head: REGULATORY COMPLIANCE
1

Regulatory Compliance
Name
Date

REGULATORY COMPLIANCE

2
Regulatory Compliance

Introduction
Corporations and companies strive to comply with statutory and legislative regulations
put in place to safeguard them and their stakeholders from practices that may be hazardous to
them. These regulations attempt to provide direction on how the said corporations should
embrace accountability and responsibility, especially on the part of the management and
employees involved. In essence, they provide oversight over the corporate executives, with
respect to their practices and so on. However, caution has to be applied in implementing these
regulations since the same almost always prove to be way too expensive to execute. Therefore,
the companies implementing the same must be careful not to spend too much trying to curb the
vices of fraud and unaccountability.
The Sarbanes-Oxley Act (SOX) was passed and promulgated in 2002 with the aim of
establishing inherent integrity of source data for the organization, with respect to financial
disclosures and financial transactions. The Act in essence seeks to cushion the company
shareholders as well as the general public from fraudulent practices that may be favored by the
executive management as well as from errors in accounting. Further, the Act also concerns itself
with the issues of improvemen...


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