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Author: Wilma H. Fletcher,Theodore N. Plette,Elizabeth Bazan,Ruben Castillo,Mark Jickling
ISBN13: 978-1604560879
Title: The Sarbanes-Oxley Act: Implementation, Significance, and Impact
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ePUB size: 1530 kb
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Language: English
Category: Business
Publisher: Nova Science Pub Inc (July 30, 2008)
Pages: 156

The Sarbanes-Oxley Act: Implementation, Significance, and Impact by Wilma H. Fletcher,Theodore N. Plette,Elizabeth Bazan,Ruben Castillo,Mark Jickling

Sarbanes-Oxley and the competitive position of .

S congressman Paul Sarbanes and Representative Michael Oxley are the architects of The Sarbanes-Oxley Act (SOX). Introduced in July 2002, caused a major change in corporate governance and in the financial areas of business in . exchange. Previous to this act, many businesses were involved or associated with extortion, leading to the act that will attempt to re-gaining the confidence of investors. According to the book, The Sarbanes-Oxley Act: Implementation, Significance, and Impact (by Wilma H Fletcher, Theodore Plette, Preface, para. A way that investors knew for a fact that they were not getting deceived, was that this act required an independent third party to verify the accuracy of the companies financial statements.

It has also introduced provision for the improvement in internal auditing of the firm. References: Fletcher, . The Sarbanes-Oxley Act: Implementation, Significance, and Impact. USA: Nova Publishers. The Sarbanes-Oxley Act: Costs, Benefits and Business Impact. Investments: An Introduction. USA: Cengage Learning.

This new book goes beyond the implementation phase of SOX and looks at the reaction to the Act in terms of costs, benefits and business impacts. The Sarbanes-Oxley Act has been somewhat successful, but not completely and the cost (well over a trillion dollars) might be considered too high a price to pay for the gains. This book takes a hard look at the costs, benefits and other impacts as well as at what influential and prominent financial, government and business leaders think about it now. International in scope and content and including interviews with prominent business leaders, CEOs and CFOs of large and small corporations.

Caliendo, Marco and Sabine Kopeinig (2008): Some Practical Guidance for the Implementation of Propensity Score Matching, Journal of Economic Surveys, 22 (1): 31–72. CrossRefGoogle Scholar. Carney, William J. (2006): The Costs of Being Public after Sarbanes-Oxley: The Irony of Going Private, Emory Law Journal, 55 (1): 141–160. Carter, Richard B. and Steven Manaster (1990): Initial Public Offerings and Underwriter Reputation, Journal of Finance, 45 (4): 1045–1067.

The Sarbanes-Oxley Act is hailed as the most dramatic change and far-reaching act in the financial market place since the SEC was formed. The SOX act is here to stay and it is long overdue. The Sarbanes-Oxley Act. New York: Aspen Publishers. CRS Report for Congress The Sarbanes-Oxley Act of 2002: What impact has it on small business firms. Managerial Auditing Journal, 743-766. Peters, G. F. (2012).

The Sarbanes-Oxley Act of 2002 is a primary example of legislation following financial market failure. Sarbanes-Oxley influenced public businesses through transformation of the financial system. The July 2002 enactment of the Sarbanes Oxley Act, co-authored by . Sen. Paul Sarbanes of Maryland and . Rep. Michael Oxley of Ohio, followed a series of large public company failures that included Enron, Tyco and WorldCom. Public companies required to comply with Sarbanes-Oxley incur additional costs directly attributed to the legislation. In addition, the scope of audits broadened with the inclusion of Section 404.

Get help on 【 Sarbanes- Oxley Act Essay 】 on Graduateway ✅ Huge assortment of FREE essays & assignments ✅ The best writers! . This serves the importance of enhancing the reliability and accuracy of financial statements given by companies. To achieve this, Sarbanes- Oxley Act dictates for CEOs and CFOs of firms to take full responsibility of their financial statements (Holt, 2006). To ensure the integrity of the financial reporting process, under Title VIII, the law provides for criminal penalties to those involved in manipulating financial records (Plette, & Fletcher, 2008). It is worth noting that the Sarbanes- Oxley Act provides protection to those who identify and report unethical financial reporting practices by corporations.

Sarbanes Oxley Act Joslin Cuthbertson Hampton University Abstract The Sarbanes-Oxley Act came into effect in July 2002 and introduced major changes to the guidelines of corporate authority and financial practice. It is named after Senator Paul Sarbanes and Representative Michael Oxley, who were its main originators. Since the bill's passage and implementation, nervous investors who had yanked trillions of dollars from the market have returned (Farrell, 2007).

The Sarbanes-Oxley Act of 2002, PL 107-204 described by some as the most important and far-reaching securities legislation since passage of the Securities Act of 1933, 15 USC 77a et seq, and the Securities Exchange Act of 1934, 15 USC 78a et seq, both of which were passed in the wake of the Stock Market Crash of 1929. The Act establishes a new Public Company Accounting Oversight Board which is to be supervised by the Securities and Exchange Commission. The Act restricts accounting firms from performing a number of other services for the companies which they audit. The Act also requires new disclosures for public companies and the officers and directors of those companies. Among the other issues affected by the new legislation are securities fraud, criminal and civil penalties for violating the securities laws and other laws, blackouts for insider trades of pension fund shares, and protections for corporate whistleblowers. This book contains important analyses on the impact of this Act.