Description
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?
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.

Explanation & Answer

Attached.
Running head: REGULATORY COMPLIANCE AND GOVERNANCE
Regulatory Compliance and Governance
Name
Institution
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REGULATORY COMPLIANCE AND GOVERNANCE
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Regulatory Compliance and Governance
Enron Scandal
The fall of Enron has imposed hard-on self-assurance into more significant risk. It is not
the major big business that has been altered by a secretarial that is bad. Before its collapse, the
controller and other various investors that are specialized regarding that scheme of mistake also
had collapsed. Accounting descend is not the only reason that for the fail of the Enron success
but was one among the various businesses that have applied the secretarial to conceal its losses at
increase its revenue (Bauer, 2011). Usually in a big corporation secretarial is typically
impassable as depicted by some of the experts. The board of Enron directors intentionally
allowed Enron to earn billions of dollars in movements that were off-books to establish its
financial situation to seem as improved other than the way it appeared before. It was also
unsuccessful to ensure there was enough community revelation of legal substance that was off
the books that consequently resulted in the downfall of Enron (Bauer, 2011).
Sarbanes-Oxley Act (SOX) of 2002
SOX of 2002 are among the federal laws that brought about sweeping the financial and
auditing regulations in the public companies. It was made to safe guard the employees,
shareholders as well as the ent...
