StudyXY
RegisterLog in

Sarbanes-Oxley Act Of 2002

An analysis of the Sarbanes-Oxley Act and its impact on corporate governance and financial reporting.

Lily Green
Contributor
4.0
44
6 months ago
Preview (1 of 2 Pages)
100%
Purchase to unlock

Page 1

Sarbanes-Oxley Act Of 2002 - Page 1 preview image

Loading page ...

Sarbanes Oxley Act of 2002➢The Sarbanes-Oxley Act of 2002 (SOX) was enacted in response tocorporate corruption which caused widespread financial loss byshareholders due to misleading business practices. SOX aims to protectshareholders through enhanced governance, corporate accountability,formal internal controls, transparency from executives, requiring fulldisclosure in financial reporting, and compliance monitoring➢The changes implemented by SOX are guided by the principle ofindependent oversight. The overall goal, as stated above, is protectingshareholders, and this is accomplished with intricate checks andbalances in corporate accounting.➢The Securities and Exchange Commission (SEC) is the administrativebody of the U.S. government that handles federal securities laws (Reedet al., 2016). Their mission involves the protection of investors, capitalformation, and maintenance of a fair and efficient market.➢The passing of the Sarbanes-Oxley Act not only formed the PCAOB butalso instilled it with the authority to enforce penalties for securitiesfraud on public corporations.
Preview Mode

This document has 2 pages. Sign in to access the full document!

Study Now!

XY-Copilot AI
Unlimited Access
Secure Payment
Instant Access
24/7 Support
Document Chat

Document Details

Subject
Business Law

Related Documents

View all
Solved Assignments

Commercial Law Assignment 1-1

This assignment explores key legal concepts under the Companies Act 71 of 2008, including company types, liability, suretyship rights, and the passing of ownership in movable property, with practical application to corporate and contract scenarios.

Solved Assignments

MRL3702 Assignment 1

This assignment analyzes the Quantum Foods case involving contractual bonuses and minimum wage compliance. It reviews legal issues, the court's ruling, and academic opinion based on the National Minimum Wage Act and relevant labour principles.

Past Exams

Quiz-No-2-Labor-ED

Quiz on labor law and overseas employment, covering recruitment regulations, illegal recruitment, and POEA guidelines. Ideal for students or professionals reviewing legal principles on migrant worker protections and placement practices.

Past Exams

BLAW 202 Sample Questions Spring 2025

Prepare for BLAW 202 with these sample questions covering corporate governance, shareholder rights, competition law, and intellectual property. Ideal for students seeking a quick review ahead of Spring 2025 exams.

Solved Assignments

Employment Law Duties and Misconduct under the Lab

The outlines key employment law terms and scenarios under the Labour Act 11 of 2007, covering employee duties, misconduct, sexual harassment, conflicts of interest, and legal obligations in the workplace through definitions and true/false analysis.

Solved Assignments

Obligations and Contracts

Situational exercises on obligations and contracts under Philippine law, analyzing legal scenarios involving solidary debts, conditions, and time periods, each supported by specific Civil Code provisions.

Class Notes

Contract and Consumer Protection Law

This chapter explores the Australian Consumer Law, including consumer guarantees, product safety, unfair business practices, and legal remedies. It explains how these laws protect individuals and apply across all Australian jurisdictions.

Solved Assignments

Whistle blowing and Sarbanes-Oxley

Discusses the impact of Sarbanes-Oxley on corporate whistleblowing.

Solved Assignments

Sarbanes Oxley Act of 2002

An assignment discussing the Sarbanes-Oxley Act and its implications.

Solved Assignments

Legal and Ethical Responsibilities in Risk Management and Museum Practices

Discussion on ethical considerations and risk management in museum operations.