sarbanes oxley
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Title: sarbanes oxley

Essay Details:

Subject: Business
Author: Dan B
Date: July 20, 2011
Level:
Grade: A
Length: 3 / 820

Essay text:

The result of the large corporate financial scandals like Enron, WorldCom, Global Crossing and Arthur Andersen, resulted in a loss of public trust in accounting and reporting practices. Corporate greed and corruption has changed the face of American business forever. Corporate greed was the primary factor in the downfall of Enron, Global Crossing and MCI WorldCom. Furthermore, these scandals have led to one of the most significant change to federal securities laws in a long time. The Sarbanes-Oxley Act of 2002 was sponsored by US Senator Paul Sarbanes and US Representative Michael Oxley and became effective in 2004, all publicly-traded companies are required to submit an annual report of the effectiveness of their internal accounting controls to the SEC...

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