ACC 230 Week 1: An Analysis of the Sarbanes-Oxley Act: Provisions, Ethical Boundaries, and Impact on Financial Reliability
An examination of the Sarbanes-Oxley Act's impact on financial ethics and reliability.
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ACC 230 Week 1: An Analysis of the Sarbanes-Oxley Act: Provisions, Ethical
Boundaries, and Impact on Financial Reliability
ACC 230 WEEK 1 DQ 2
Search the Internet or the Online Library for information about the Sarbanes-Oxley Act. A useful guide to
some of these provisions is located at http://www.soxlaw.com. Summarize at least two provisions of the
law, and discuss your interpretation of these provisions with your classmates. Do you think this law will
make financial statements more reliable? Also, discuss how Sarbanes-Oxley establishes boundaries to
ensure ethical practices. What does the law allow or prohibit, and why?
The Sarbanes-Oxley Act Section 302 describes the responsibilities of the corporation in regards
to their financial statements. According to this section corporations must follow regulations such
as representing true and accurate information on their financial statements and that the reports
are reviewed by signing officers. The Sarbanes-Oxley Act Section 302 ensures that financial
statements are reliable based on their requirements for financial statements to be reviewed by the
signing officer.
The Sarbanes-Oxley Act Section 409 states that the corporation must provide the public with
information on any financial changes in a form of communication that is easily understandable
by the public. This information provides information to the public before it is included on the
financial statements at year end for individuals. This ensures that the information provided to the
public is also provided on the financial statements.
Boundaries, and Impact on Financial Reliability
ACC 230 WEEK 1 DQ 2
Search the Internet or the Online Library for information about the Sarbanes-Oxley Act. A useful guide to
some of these provisions is located at http://www.soxlaw.com. Summarize at least two provisions of the
law, and discuss your interpretation of these provisions with your classmates. Do you think this law will
make financial statements more reliable? Also, discuss how Sarbanes-Oxley establishes boundaries to
ensure ethical practices. What does the law allow or prohibit, and why?
The Sarbanes-Oxley Act Section 302 describes the responsibilities of the corporation in regards
to their financial statements. According to this section corporations must follow regulations such
as representing true and accurate information on their financial statements and that the reports
are reviewed by signing officers. The Sarbanes-Oxley Act Section 302 ensures that financial
statements are reliable based on their requirements for financial statements to be reviewed by the
signing officer.
The Sarbanes-Oxley Act Section 409 states that the corporation must provide the public with
information on any financial changes in a form of communication that is easily understandable
by the public. This information provides information to the public before it is included on the
financial statements at year end for individuals. This ensures that the information provided to the
public is also provided on the financial statements.
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Document Details
University
Hult International Business School
Subject
Accounting