Law 421 Sypnosis

University of Phoenix Material Article Review Format guide MEMORANDUM UNIVERSITY OF PHOENIX DATE: TO: FROM: RE: wherefore was the Sarbanes-Oxley var. out of 2002 created and how does it imp execution pecuniary inform forthwith? Hooper, C. (2010). Why was the sarbanes-oxley act of 2002 created and how does it Impact pecuniary reporting straighta right smart? 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 second (SOX) was passed by Congress in 2002. The SOX make out affected the responsibilities of auditors, boards of directors, and bodied managers with respect to financial reporting. The Act also established the familiar Companies Accounting Oversight plug-in (PC AOB) that 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 extend investor confidence in the financial reports provided by corporations.

The SOX Act of 2002 has had weighed down effects on financial accounting and auditing practices. Some practices of the SOX Act and related regulations ar still macrocosm implemented, and there allow 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 th at the way that boards of directors, corpora! te managers, and impertinent auditors approach their responsibilities has changed and greater efforts are being made to experience that timely and accurate financial breeding is provided to investors. LEGAL ISSUE The SOX act was implemented after the late 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, assemble it on our website: OrderEssay.net

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