| Papers [1-15] of 100 :: [Page 1 of 7] | | Go to page : 1 2 3 4 5 6 7 —> | Search results on "SARBANES OXLEY ACT COSTLY SIDE": |
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Sarbanes-Oxley Act's Costly Side, 2005.
A look at the negative consequences of the Sarbanes-Oxley Act.
2,250 words (approx. 9.0 pages), 6 sources, MLA, $ 79.95
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Abstract
This paper contends that the Sarbanes-Oxley Act, although good in spirit, has inadvertently created burdens on small- and mid-sized companies causing a slowdown in the growth of this critical component of the U.S. economy.
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Sarbanes-Oxley Act 2002, 2006.
An analysis of the benefits and hardships on small businesses of the Sarbanes-Oxley Act 2002
3,487 words (approx. 13.9 pages), 13 sources, APA, $ 98.95
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Abstract
This paper explores the Sarbanes-Oxley Act of 2002 and the impact of the act on small businesses. As part of this review is an outline of the Sarbanes-Oxley Act of 2002 and an exploration of the importance of Sarbanes-Oxley conformity on the market and economy. It looks at the cost of implementation of internal controls and audit fees, provides a review of fraudulent behavior and a review of prior academic research. It also discusses the impact of Sarbanes-Oxley on small businesses and what, if any, is being done to help the small business community to conform to the new regulations.
Outline
Overview of Sarbanes-Oxley Act of 2002 (SOX)
Which Companies Need to Comply With Sarbanes-Oxley?
Why is The SOX Act of 2002 Significant?
How Can SOX Help Small Businesses
Information Technology Solutions for SOX Compliance
What is the Impact of SOX on Smaller Businesses?
Is There Any Help for Small Business Compliance?
Are There Significant Findings in Academic Research?
Finally - Fraudulent Behavior
Conclusion
From the Paper
"One of the main focal points of SOX is to bring back investor confidence by forcing corporate accountability and giving the corporations the mechanisms to do so. Investor confidence is extremely important for the survival of the economy. As investor confidence declines so does the stock market and as a result we will also see a decline in the economy's health. When investors lose confidence in the market, consumers tend to spend less and less on big ticket items such as putting off buying a new car.6 If the economy continues to lose confidence the lack of big ticket purchases and the undervaluing of stock will begin to hurt businesses. "
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The Sarbanes-Oxley Act (SOX).
This paper investigates the ability of the Sarbanes-Oxley Act (SOX) to promote corporate ethics by evaluating the effect of the Government in Ethics Act of 1978 on government ethics.
4,025 words (approx. 16.1 pages), 11 sources, MLA, $ 108.95
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Abstract
This paper explains that the Sarbanes-Oxley (SOX) Act of 2002, a set of complex regulations designed to enforce corporate accountability and responsibility, represents one of the most important business reform acts since the Securities Exchange Act of 1934. The author points out that the Government in Ethics Act of 1978, which established a comprehensive code of ethics for federal officials, not only the House and Senate but also the entire government including the executive branch, requires government officers to file financial disclosure statements in order to make it possible to identify conflicts of interest and places tighter restrictions on executive-branch employees' ability to register as lobbyists after leaving government service. The paper concludes that, although there are benefits to adhering to the Government in Ethics or the Sarbanes-Oxley Acts, without any real enforcement or retribution for violations, these federal legislation measures appear to be emblematic of the old adage: Same story, different day.
Table of Contents
Thesis Statement
Sarbanes-Oxley Act of 2002
Intended Consequences
Government in Ethics Act
Financial Disclosures
Conflicts of Interest
Sarbanes-Oxley Implementation
Advantages
Disadvantages
Ethics in Government Act
Advantages
Disadvantages
Conclusion
From the Paper
"One of the more significant measures associated with the act is the disclosure of personal finances and investments. This evaluation is intended to be the initial step with identifying any possible conflicts of interest that an appointee or government employee may have (or become party to) during their tenure with the government. Also, for some employees -executive branch, presidential appointees, certain military and policy makers-their records must be made public. Considering this type of scrutiny, one has to ask the question in regards to private sector corporations: Would a Chief Executive Officer (CEO) or Chief Financial Officer (CFO) subject themselves and their families to this type of intense violation of privacy and scrutiny?"
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Sarbanes-Oxley Act, 2008.
An analysis of the Sarbanes-Oxley Act and its successes.
1,508 words (approx. 6.0 pages), 4 sources, APA, $ 49.95
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Abstract
The paper analyzes the events leading to the creation of the Sarbanes-Oxley Act of 2002 and outlines the major facets of the Act. The paper reviews the Act to see the major challenges and successes the Sarbanes-Oxley Act has addressed. The paper concludes that despite the Act's drawbacks, it has been able to alleviate or at least deter poor financial reporting that either directly or indirectly had the objective to defraud individuals.
Outline:
Introduction
Preceding the Sarbanes-Oxley Act
Major Provisions of the Act
Will the Act be Successful?
Conclusion
From the Paper
"The Sarbanes-Oxley Act (henceforth SOX) contains 11 titles, which address issues involving criminal penalties, independence of auditors, rulings and requirements of the Securities and Exchange Commission, among other known accounting elements. The most profound part of SOX is the fact that there is a board that acts as an oversight agency which regulates, inspects, and disciplines auditors in their role as external accountants for public companies."
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The Sarbanes-Oxley Act, 2004.
This paper discusses the ?Sarbanes-Oxley Act?, a comprehensive corporate reform package signed into U.S. law on July 30, 2002.
1,670 words (approx. 6.7 pages), 6 sources, MLA, $ 54.95
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Abstract
This paper explains that the Sarbanes-Oxley Act came about because of the bankruptcies of Enron, Global Crossing, Adelphia, and WorldCom. These companies had hidden their true financial health from creditors and shareholders until an inability to meet financial commitments forced them to restate earnings that revealed massive losses. The author points out that a disadvantage of this Act is that the corporate sector in the United States is already sufficiently regulated, making it one of most tightly controlled in the world. The paper relates that the Sarbanes-Oxley Act restores the all-important role of the auditors as corporate ?watchdogs?, which is desirable for ensuring compliance with the prescribed accounting standards, and expands the role of the audit committee by making it responsible for appointing and overseeing the performance of the internal auditors.
Table of Contents
Introduction
Background
Accounting Problems that Led to Sarbanes-Oxley
Advantages of the Act
Disadvantages of the Act
Effect of the Act on the Future of Accounting Profession
Opinion
From the Paper
"One of the provisions of Sarbanes-Oxley makes the chief executive officers (CEOs) and chief financial officers (CFOs) personally responsible for signing false accounts and financial statements. They can now get stiff jail terms for violating the law by signing false and misleading financial statements. Before Sarbanes-Oxley many CEOs and CFOs pleaded innocence when financial irregularities were revealed by claiming that they were unaware of the ?cooking? of the books by their subordinates."
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The Sarbanes-Oxley Act, 2005.
This paper discusses the economic and ethical implications of the Sarbanes-Oxley Act, which establishes new accounting disclosure requirements.
905 words (approx. 3.6 pages), 6 sources, APA, $ 32.95
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Abstract
This paper explains that the introduction of the Sarbanes-Oxley Act influenced corporate governance practices to the highest degree and fundamentally changed the business and regulatory environment by introducing numerous new accounting requirements. The author points out that, as companies continue to apply Sarbanes-Oxley principles to their operations, many organizations see immediate benefits ranging from improved documentation procedures to the further development of effective ethics policies. The paper states that, once the improved documentation and governance procedures are established, the internal controls are in place and the employees are trained; the costs associated with the Sarbanes-Oxley Act will go down and the organizations will be able to take full advantage of compliance. Tables.
Table of Contents
The Law
The Importance of the Law
The Benefits of the Law
Positive Changes
Costs of Compliance
Costs versus Benefits
Conclusion
From the Paper
"Common sense and personal integrity suggest that in today's world, remaining faithful to personal and organizational ethical standards is more important than ever. Many disappointing examples exist in the face of Enron, Andersen, WorldCom, Tyco, and others that prove just how vulnerable employees and organizations are to unethical decisions and how devastating the outcome of unethical behavior can be. Not only personal careers, but also the future of entire organizations and the integrity of the national economy depend on the commitment of individuals and companies to high moral principles."
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The Sarbanes-Oxley Act, 2002.
This paper discusses the Sarbanes-Oxley Act, passed as a means of stopping financial abuses, such as the 2002 WorldCom scandal.
1,700 words (approx. 6.8 pages), 10 sources, MLA, $ 55.95
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Abstract
This paper explains the Sarbanes-Oxley Act of 2002, which requires all companies to file periodic reports with the SEC, changes the responsibilities of directors and offices, and modifies the reporting and corporate government obligations of SEC-reporting companies. The author points out that the business objective of the Sarbanes-Oxley Act is to restore investor confidence in companies and markets. The paper concludes that, in the long run, the Sarbanes-Oxley Act will do little to increase the integrity of certified financial results and may only lead to an upswing in litigation.
From the Paper
"The economic fall out of corporate fraud has been devastating (Taylor, 2003). Seven of the twelve largest bankruptcies in U.S. history are now working their way through the courts. A slew of over-hyped Internet companies have gone out of business. On December 2, 2001, Enron filed for what was then the largest bankruptcy in US history at $63 billion. This was followed by bankruptcy filings from Adelphia Communications in June ($24 billion) and by Worldcom ($104 billion) in July, the largest bankruptcy in history. In all these cases, the companies had simply lied about their earnings. And, the stock market has been decimated. The bear market has lasted longer than that of the Great Depression. At its low, the S&P 500 was down forty-nine percent from its high in 2000, and NASDAQ was down seventy-eight percent."
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The Sarbanes-Oxley Act, 2007.
An analysis of the Sarbanes-Oxley Act of 2002, which targets white-collar business fraud.
1,841 words (approx. 7.4 pages), 10 sources, MLA, $ 59.95
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Abstract
This paper discusses the Sarbanes-Oxley Act of 2002, which states that all business corporations need to better supervise and control their employees, documents and information and sets severe measures for those who destroy documents or hide them from the public or the government's institutions. The paper looks at the criticism and dissatisfaction of businesses with this legislation but also examines the positive effects of the bill on white-collar crime and corporate behavior. The paper evaluates the economic impact of the Sarbanes-Oxley Act.
Outline:
Abstract
Case Information
The SOX case of Richards vs Lexmark International Inc.
Literature on the Sarbanes-Oxley Act of 2002
Conclusions
From the Paper
"During the past few decades, the number of white-collar business fraud cases seemed to increase dramatically. Due to an immense interest and press investigations, these crimes were brought to the publics' attention, causing them to lose their confidence in the fairness of business actions. In July 2002, Senator Paul Sarbanes and Representative Michael G. Oxley presented the American Senate with the Public Company Accounting Reform and Investor Protection Act of 2002."
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The 2002 Sarbanes-Oxley Act, 2004.
This discusses the Sarbanes-Oxley Act, which was created to make companies more accountable.
935 words (approx. 3.7 pages), 4 sources, APA, $ 33.95
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Abstract
This paper explains that the Sarbanes-Oxley Act (July 2002) is a weak attempt by Congress and the Securities and Exchange Commission to make meaningful changes in the oversight of public companies. The paper relates that the future of the accounting profession will be different under the Sarbanes-Oxley Act because auditors will report to an audit committee, not management; auditors will no longer be allowed to offer many non-audit services to the client; and the lead audit partner and audit review partner must be rotated every five years. The author has serious reservations regarding whether or not Sarbanes-Oxley does enough to change the underlying root cause of accounting irregularities and believes that more research is needed.
From the Paper
"Although many department chiefs already are stepping up Sarbanes-Oxley Act compliance activity throughout their organization, most say they feel like they are just going through motions. And, few finance executives believe Sarbanes will do much to restore investor confidence. In a PricewaterhouseCoopers survey, eighty-four percent of executives reported that Sarbanes has changed control and compliance practices at their companies?though not significantly. And, more than half contend the new law simply formalizes what their company had been already doing anyway."
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The Sarbanes-Oxley Act, 2007.
This paper analyzes the current issues and trends pertaining to the Sarbanes-Oxley Act.
1,118 words (approx. 4.5 pages), 6 sources, MLA, $ 38.95
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Abstract
The paper explains that the Sarbanes-Oxley Act has been successful in enabling higher levels of accountability throughout publicly-held companies. The paper relates that this is mainly a result of re-defining core processes as they relate to financial reporting and the disclosure of events that impact a company's financial performance. The paper also points out the interpretative nature of the compliance legislation and the confusion that exists over just what constitutes a compliant strategy. The paper concludes that compliance is a corporate-wide strategy.
Outline:
Executive Summary
Fundamentals of Sarbanes-Oxley
Analyzing How Sarbanes-Oxley is Redefining Processes and IT Spending
Sarbanes-Oxley Audits Are the Big News for 2006
Bottom Line
From the Paper
"Inherent in Sarbanes-Oxley compliance efforts is the synchronizing of the many databases and data marts that contain financial data. The growth of Enterprise Content Management (ECM) has been in direct response to the need for greater coordination of financial data and the re-defining of processes to make Sarbanes-Oxley compliance easier accomplished including successful completion of audits by Sarbanes-Oxley auditors. Columbus and Murphy (2002) defined through their series of research initiatives on the adoption of enterprise content management (ECM) as a unifying strategy across all content stores had a 5% penetration rate into many organizations."
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Sarbanes-Oxley (SOX) Act of 2002, 2008.
A critical review of Sarbanes-Oxley (SOX) Act of 2002 to assess its success.
1,960 words (approx. 7.8 pages), 4 sources, APA, $ 62.95
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Abstract
This paper outlines the events leading to the creation of the Sarbanes-Oxley (SOX) Act of 2002 and its major features. The author conducts this investigation within the contextual framework of well-known companies Symbol and WorldCom, which were publicly identified as companies that had compliance issues and faced serious failures in corporate governance. The paper also uses the CareNetWest situational analysis for a comparative analysis of risk management and other compliance issues related to the Symbol and WorldCom scenario. The paper concludes that SOX has been able to alleviate or at least deter poor financial reporting that either directly or indirectly had the objective to defraud individuals.
Table of Contents:
Introduction
Preceding the Sarbanes-Oxley Act - Symbol and WorldCom
Outcomes of the Compliance Issues with Symbol and WorldCom - Understanding Sox
Will the Act Be Successful - Avoiding another Symbol and WorldCom?
Comparative Analysis: Compliance Issues with CareNetWest, Symbol, and WorldCom
Conclusion
From the Paper
"WorldCom were the main companies that led to the severe need for SOX. WorldCom in 2002 was fined by the Securities Exchange Commission, after it was found that the company improperly booked $3.8 billion dollars over five years that made revenues looked better than what they were and was used to 'trick' shareholders and investors with a blatant misrepresentation of the company's finances. WorldCom's actions were unethical and purposefully did not account for true cost and expenses which severely overstated profits."
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The Sarbanes-Oxley Act, 2008.
A review of how the Sarbanes-Oxley Act keeps the corporation's audit committees on track so that illegal activity cannot cause the business financial distress.
2,630 words (approx. 10.5 pages), 5 sources, MLA, $ 79.95
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Abstract
The paper states that the Sarbanes-Oxley Act on corporation's audit committees has become more structured. The paper discusses that the audit committees should be composed of individuals who are not compensated for their service on this committee or involved in any other conflict of interest with any entity doing business with the organization, since most nonprofit organizations have volunteer board members. This paper demonstrates the many changes that an audit committee will experience through the Sarbanes Oxley Act in order to be successful.
Outline:
Executive Summary
Introduction
Discussion
Conclusion
From the Paper
"From there, the board and senior management team have been trying to relocate the company into a better position so that the future of the company will be secured. This promising future will be able to support jobs that are available at the present time and create others. "The audit committee, primarily composed of members of the board of directors, plays a critical role in providing oversight over and serving as a check and balance on a company's financial reporting system. The audit committee provides independent review and oversight of a company's financial reporting processes, internal controls and independent auditors. It also acts as a forum separate from management in which auditors and other interested parties can candidly discuss concerns" (Sarbanes-Oxley Act: Audit committee effectiveness = good company management). Along with that, the union has bees trying to characterize the employees in a losing situation due to the fact that it has not a part of the decisions of the senior management team. In the past, they have given up certain benefits to create an atmosphere of give and take; however they have been feeling that they have been taken advantage of by not being included in the current company decisions."
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The Sarbanes-Oxley Act, 2008.
An outline and discussion on the implementation of section 404 of the Sarbanes-Oxley Act.
1,145 words (approx. 4.6 pages), 3 sources, APA, $ 39.95
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Abstract
The paper discusses how financial professionals are assisting their organizations in the implementation of Section 404 of the Sarbanes-Oxley Act (SOX) (2002). The paper highlights how the public accounting profession is affected by this Act including the issues relating to whether or not a company should be publicly listed on a stock exchange. The paper confirms that many companies chose to stay privately held as a direct result of the costs and level of disclosures necessary to comply with SOX requirements. The paper shows that the burden of compliance on publicly-traded companies is very significant due to the high costs of the implementation of software technology etc. The paper concludes that for the financial professional the need for creating a process-centric view of their organizations is critical.
Outline:
Preparing for a SOX Audit
Conclusion
From the Paper
"The greatest contribution financial professionals can make to their organizations is in preparing for a SOX Audit including the IT-related tasks and requirements. From a public accounting standpoint, the significant costs of first re-architecting the many financial processes of their companies to be SOX compliant, then working to ensure audits will be accomplishable are two major strategic investments companies working to attain SOX compliance need to take on. The culmination of efforts at compliance, both for existing publicly-traded companies, and those that choose to go public on exchanges in the U.S. to raise capital both have their moment of truth when a SOX audit of their financial, operations, sales and pricing, logistics, and fulfillment processes and systems are all evaluated from the standpoint of aligned with the requirements of Section 404. As Congress kept the wording of Section 404 as non-prescriptive, there is significant variation in how both companies and services organizations interpret this standard. What this paper looks to do is explain at the audit level what is required of financial professionals, as the audit must be passed for any publicly-traded company to continue operating without fines and penalties."
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Sarbanes-Oxley Act, 2006.
A paper which looks at various aspects of the Sarbanes-Oxley Act.
1,204 words (approx. 4.8 pages), 2 sources, MLA, $ 41.95
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Abstract
This paper begins by providing an overview of the Sarbanes-Oxley Act. It then looks at the Act's primary purpose which is to revamp the outdated legislative audit requirements for American corporations and seeks to protect investors by making improvements to the accuracy and reliability of corporate disclosures. Major events leading up to the Act's creation are discussed followed by a look at its ethical implications.
From the Paper
"There are several ethical impacts due to the Sarbanes-Oxley Act. Perhaps the most significant is the establishment of auditor independence. Auditors now are not as entwined with the organizational business as they once were allowed to be, eliminating potential conflicts of interest that may sway an auditor to look the other way when certain data is presented. Like much of the Act, it establishes a firm line on what is ethically appropriate in corporate America."
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