Sample content Sarbanes-Oxley Paper ACC/340 Sarbanes-Oxley Paper United States of America federal government Sarbanes-Oxley Law was established to enhance the precision and dependability to eventually safeguard shareholders. The Law is referred to as the Public Company Accounting Reform and Protection Act of 2002. The Act was signed into law on July 30, 2002. The Reason for Passage Throughout the late 1990s and early parts of the year 2000 a lot of acts of corruption in business sector continued with no laws to prevent it. The Sarbanes-Oxley Act of 2002 (frequently shortened to SOX) is regulation passed in reaction to the high-profile Enron and WorldCom fiscal scams to safeguard investors as well as the public from accounting mistakes and bogus practices in the company (Spurzem, 2006). Just after these scams the President of the United States of America at that time President George Bush pushed for the act to get passed by the house and senate so that he could sign it into

1. ACC 340 Week 5 Sarbanes Oxley Paper
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Sample content
Sarbanes-Oxley Paper
ACC/340
Sarbanes-Oxley Paper

2. United States of America federal government Sarbanes-Oxley Law was
established to enhance the precision and dependability to eventually safeguard
shareholders. The Law is referred to as the Public Company Accounting Reform
and Protection Act of 2002. The Act was signed into law on July 30, 2002.
The Reason for Passage
Throughout the late 1990s and early parts of the year 2000 a lot of acts of
corruption in business sector continued with no laws to prevent it. The Sarbanes-
Oxley Act of 2002 (frequently shortened to SOX) is regulation passed in reaction to
the high-profile Enron and WorldCom fiscal scams to safeguard investors as well
as the public from accounting mistakes and bogus practices in the company
(Spurzem, 2006). Just after these scams the President of the United States of
America at that time President George Bush pushed for the act to get passed by
the house and senate so that he could sign it into legislation to safeguard
shareholders. The law passed the House 423-3 as well as the Senate 99-0 and
was immediately signed into the law by the president. As soon as passed the law
has been viewed as the most comprehensive measure to try to improve business
accounting rules because the Security and Exchange Law of 1934. The Law is
really a direct effort to keep companies away from deliberately committing fiscal
scam and deceiving their stockholders and shareholders. The Law demands
companies to administer far-reaching corporate governing plans to anticipate and
prevent bogus activities with a company and also to respond accordingly. The
Sarbanes-Oxley Law is administered through the Securities and Exchange
Commission, and provides clear recommendations on which
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