Business Ethics Article Review

Paper Summary:

This paper discusses a recent article by Carpenter, Fennema, Fretwell, and Hillison, entitled "A Changing Corporate Culture: How Companies Are Adjusting to Sarbanes-Oxley. " In this article these researchers reveal how Sarbanes-Oxley has required public companies to elevate the importance of ethical leadership in financial reporting and management. Additionally, these researchers have illustrated several strategies that companies have taken to execute Sarbanes-Oxley and to even further its impact within an organization.

From the Paper:

"In a recent article Carpenter, Fennema, Fretwell, and Hillison (2004) discuss the effects of two legislative acts, one by the accounting industry itself and one by the federal government. These two legislated acts have brought greater control and oversight to the financial management and reporting processes of public companies: the SAS no.99 or the Consideration of Fraud in a Financial Statement Audit, and the Sarbanes-Oxley Act of 2002 (Carpenter, Fennema, Fretwell, & Hillison, 2004). These researchers base their observations on both qualitative secondary research as well as quantitative primary research. The secondary qualitative research centers on a thorough analysis of both of the aforementioned acts and on a quantitative survey of corporate representatives. While these researchers caution that their sample group is too small to make substantive assumptions, they are able to draw some valid and useful conclusions regarding how financial reporting requirements have changed and what companies are..."

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