Ethics and entrepreneurship: The Sarbanes-Oxley Act

Docs en anglais | 4 pages | 30-09-2008 | Format : | Note : Non noté

PRIX : 5.40€ |

Résumé

This presentation shows the origins and the contents of the Sarbanes-Oxley Act and analyses its benefits and costs.

Extract:

On July 30, 2002, President Bush signed into law a revolutionary Act: the Sarbanes-Oxley Act, also known as the Public Company Accounting Reform and Investor Protection Act. In the wake of many financial scandals, this law establishes new accounting and control requirements on U.S. publicly owned companies. Administrated by the Securities and Exchange Commission, it aims at safeguarding against fraudulent accounting, protecting shareholders, and requires CEOs and CFOs to certify the accuracy and truthfulness of the accounts...

Table of contents:

Introduction

I) The origins and factors of the Sarbanes-Oxley Act

- A general context of failures
- The implementation of SOX to avoid any conflict of interests
- The manipulation of banking and corporate practices

II) The contents of the Sarbanes-Oxley Act

- Auditor independence and internal control
- Corporate governance and accountability
- Financial disclosure and financial reporting

III) The benefits and costs of the Sarbanes-Oxley Act

- The benefits
- The costs

References

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