The Sarbanes-Oxley Act

Paper Summary:

The paper discusses The Sarbanes-Oxley Act, which was brought about as a result of a bankruptcy filing accounting fraud that had been perpetrated by the accounting firm Arthur Anderson. The paper states that as a result of the repercussions of corporate fraud, the federal government instituted the Sarbanes-Oxley Act, or the Public Company Accounting Reform and Investor Protection Act. The paper discusses circumstances that resulted in the creation of the act and the legal precedents leading up to the act, the details of the act and its impact on the corporate world, and speculation as to the act's effects in the future.

Outline:
Introduction
Conditions Resulting in the Sarbanes-Oxley Act and Legal Precedents Leading Up to the Act
Details of the Act and Impact on the Corporate World Speculation Into The Act's Effects in the Future
Conclusion

From the Paper:

"Thus, a variety of opinions exist as to the current and long-term effects of the Sarbanes-Oxley Act. In the eyes of some, the act has had problems since its formation, problems that make it less than effective in addition to allowing for an unnecessary degree of government intervention into business and markets. Similarly, some criticize the act for the difficulty with which it presents small and start-up businesses. On the other hand, some scholars claim that the act is not only strong enough to back up its claims, but also that its promises will provide for a better future."

Sample of Sources Used:

• Ackman, Dan. "WorldCom, Tyco, Enron--R.I.P." Forbes. 1 July 2002. Forbes. 16 July 2008. <http://www.forbes.com/2002/07/01/0701topnews.html>.
• Bumgardner, Larry. "Reforming Corporate America: How Does the Sarbanes-Oxley Act
• Impact American Business." Graziadio Business Report. 6.2 (2003): n.p.
• Coates, John C, IV. "The Goals and Promises of the Sarbanes-Oxley Act." Journal of
• Economic Perspectives. 21.1 (2007): 91-116.

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