Law 421 Sypnosis

University of Phoenix Material Article Review Format contribute MEMORANDUM UNIVERSITY OF PHOENIX DATE: TO: FROM: RE: wherefore was the Sarbanes-Oxley framing out of 2002 created and how does it imp execution fiscal coverage immediately? Hooper, C. (2010). Why was the sarbanes-oxley act of 2002 created and how does it Impact fiscal reporting at present? Retrieved from hypertext transfer protocol://www.charleshooper.net/blog/why-was-the-sarbanes-oxley-act-of-2002-created- and-how-does-it-impact-financial-reporting-today/ ARTICLE SYNOPSIS The Sarbanes-Oxley cloak (SOX) was passed by Congress in 2002. The SOX dress affected the responsibilities of auditors, boards of directors, and corporeal managers with respect to financial reporting. The Act also established the habitual Companies Accounting Oversight plug-in (PCAOB) tha t is now responsible for oversight of financial statement audits of publicly-traded corporations and the disposal of auditing standards in the U.S. The primary purpose of SOX was to cast up investor confidence in the financial reports provided by corporations.

The SOX Act of 2002 has had clayey effects on financial accounting and auditing practices. Some practices of the SOX Act and related regulations are still world implemented, and there depart undoubtedly be revisions and additions to some of these provisions. The extent to which these provisions are successful in increasing the reliability of financial reporting remains to be seen. However, there is no question that the persona l manner that boards of directors, corporate! managers, and impertinent auditors approach their responsibilities has changed and greater efforts are being made to experience that timely and accurate financial information is provided to investors. LEGAL ISSUE The SOX act was implemented after the new-fangled collapse of corporations such as Enron and Adelphia in which falsified and inaccurate financial statements led to their...If you want to shell a full essay, pasture it on our website: OrderEssay.net

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