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ACC 561 Week 2 Sarbanes - Oxley Act of 2002

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Write a paper that describes the main aspects of the regulatory environment which will protect the public from fraud
within corporations, Pay particular attention to SOX requirements
ACC 561 Sarbanes - Oxley Act of 2002
In this paper the author will describe the main aspects of the regulatory
environment which will protect the public from fraud within corporations.
The author will pay special attention to the Sox requirement; along with
evaluating whether Sox will be effective in avoiding future frauds.
Regulatory environment consist of several laws and regulations that has
been developed by federal, state, and local governments in order to limit
control over business practices. The regulatory environment plays an
important role in the positive operation of the financial sector and in the
efficient management and integration of capital flow and domestic
savings. “The value of the claims of financial institutions on borrowers is
dependent upon the certainty of legal rights, coupled with the
predictability and speed of their fair and impartial enforcement. Legal
and regulatory frameworks that empower the regulator and govern the
conduct of market participants form the cornerstone of the orderly
operation and development of the financial sector” (Making Finance
Work for Africa, 2012). Regulatory compliance has always been a part of
doing business. In almost all industry there are a variety of governments

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and industry regulations that they company must follow in the way that
they conduct their business and the penalties of not following the
regulations are clearly defined within the company (Doculabs White
Papers, 2012).
There are many regulations that has been around for a long period of
time that were developed to help protect the public from fraud such as;
state filing requirements or fair lending laws and most businesses have
meet the standards of these long standing regulations. The U.S.
Securities and Exchange Commission is developed to help protect
investors, maintain fair, orderly, and efficient markets, and facilitate
capital information. Many people are turning to the markets to help
secure their futures, pay for homes, and send their children to college;
so it is now more important for this SEC to protect the investor. The
nation’s securities exchange has went global for profit competitors, so
there is greater need for sound market regulations, “And the common
interest of all Americans in a growing economy that produces jobs,
improves our standard of living, and protects the value of our savings
means that all of the SEC's actions must be taken with an eye toward
promoting the capital formation that is necessary to sustain economic
growth” (The Investors Advocate, 2013).

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