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BL Unit I Assessment 1 of 2: Sarbanes-Oxley Act
Essay Instructions:
Research an article that discusses the Sarbanes-Oxley Act, and write a summary of the article. In your opinion, does the Sarbanes-Oxley Act effectively protect stakeholders? Why, or why not? The article should be published within the past six months and should be at least two to three pages in length. You can conduct the search on the Internet or in the CSU Online Library. Read the article, and think about how the topic relates to the concepts discussed in Chapter 2. You should incorporate terminology and concepts included in the chapter. Your response should be at least 200 words in length. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. Any references or citations must be in APA style
Text book is The Legal Environment of Business and online commerce 7th edition by Henry R. Cheeseman
Essay Sample Content Preview:
Sarbanes-Oxley Act
Name:
Institution:
SOX is the most common name that the Sarbanes-Oxley Act is referred to. It was passed back in the year 2002 in the United States of America as a federal law. The wake of financial scandals, such as, the famous Enron and the WorldCom case lead to the formulation of this law as a response to public and stakeholders cries (Cheeseman, 2012). Since the formulation of the law there has been several accountability standards that have been put in place in a bid to protect the share holders as well as the public from organizational fraudulent activities. As a requirement, companies should implement procedures that are intensive, so as to prevent any form of internal activities that are illegal and if there are any cases that are reported to the companies authorities, the company should act fast to investigate and resolve these claims (Cheeseman, 2012)..
The public and the stakeholders’ interests are well looked after with the introduction of this Act. Today the companies are obligated to disclose accurate and consistent information to the public. All the internal policies and standards are controlled and consistent, while the financial disclosures are now full. It is mandatory that all the corporate activities are made in the most ...
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