Assignment:
The Sarbanes-Oxley Act of 2002 (SOX) was passed as the result of the Enron scandal and other instances of accounting fraud. This act was passed to strengthen the role of the Securities and Exchange Commission (SEC).
Research a case of corporate financial abuse related to the Sarbanes-Oxley Act of 2002 and apply this to your current work or desired place of employment.
Create a 1,400 word analysis of the application of SOX in which you include the following:
- Discuss the mistakes made by the company and their leadership.
- Discuss the steps leadership could have taken to prevent or mitigate the repercussions.
- Explain the role of market pressures on unethical behavior.
- Examine the influence of the basics of finance and how the Sarbanes-Oxley Act of 2002 changed things.
- Evaluate the influence of Sarbanes-Oxley Act on ethical behavior. Are businesses more ethical since the enactment?
- Explain the changes companies needed to make in how they use and present financial statements.
- Discuss how SOX has affected your current place of employment if at all, and if not, how it has affected others in the same industry.