Congress enacted the sarbanes-oxley act of 2002 sox to

Question

Congress enacted the Sarbanes-Oxley Act of 2002 (SOX) to restore public trust in the markets. Among its ways of achieving this, SOX attempts to improve organizational ethics by defining a code of ethics as including the promotion of honest and ethical conduct, requiring disclosure on the codes that apply to senior financial officers, and including provisions to encourage whistle blowing.

Prepare a paper in which you address the following:

• Brief historical summary on SOX enactment
• The key ethical components of the SOX
• Social responsibility implications regarding mandatory publication of corporate ethics
• One of the main criticisms of SOX is that its implementation presents an unfair burden on smaller organizations. Do you agree or disagree with this statement? Why?
• How might you suggest improvement of the SOX legislation?

Support your paper with a minimum of five (5) scholarly resources.

Length: 5-7 pages not including title and reference pages

Answer 1

Congress performed the Sarbanes-Oxley Act of 2002 (SOX) to reinstate public trust in the markets. Among its ways of achieving this, SOX attempts to get better organizational ethics via defining a code of ethics as including the promotion of honest and ethical conduct, requiring disclosure on the codes which apply to senior financial officers, and as well as provisions to encourage whistle blowing. Prepare a paper in that you address the subsequent: • Short historical summary on SOX enactment • The key ethical components of the SOX • Social responsibility implications regarding mandatory publication of corporate ethics • One of the major criticisms of SOX is that its implementation presents an unfair burden on smaller organizations. Do you agree or disagree through this statement? Why? • How might you propose development of the SOX legislation?