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The paper examines the events that led to the passage of Sarbanes-Oxley Act, the parameters set forth in the Act and aspects of the accounting culture which are impacted by this legislation. The paper looks at some prominent examples of corporate collapses in recent history and their relationship to accounting irregularities and illustrates how the accountant is a determinant player in the economic outlook of his firm or client. The paper emphasizes this correlation between accounting and organizational survivability and asserts that the ethically heeled accountant is a crucial part of the survivability of the U.S. economy as a whole.
From the Paper:"Traditionally, the accounting profession has been seen as a functionary occupation, the practitioners of which are concerned with the presentation of economic figures relating to individual and organizational financial performance. Accountancy has been seen largely as a field reserved for mathematical grunt-work, with its output serving as indicative of performance rather than incursive upon it. Today, that perspective has been altered significantly, for better and for worse. The role of accounting professionals has both diversified and expanded considerably over the past few years, with practitioners in this field coming to serve as primary decision-makers and organizational visionaries in their own right. This serves as a testament to the crucial contribution of accountancy-derived economic insight in the determination of sensible and profitable business decisions."
Sample of Sources Used:
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- Sikka, P. (2007). Toothless Watchdogs. Comment is Free. . . Online at <http://commentisfree.guardian.co.uk/prem_sikka_/2007/11/toothless_watchdogs.html>.
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Cite this Persuasive Essay:
Accounting and the United States Economy (2010, December 29) Retrieved November 17, 2019, from https://www.academon.com/persuasive-essay/accounting-and-the-united-states-economy-146503/
"Accounting and the United States Economy" 29 December 2010. Web. 17 November. 2019. <https://www.academon.com/persuasive-essay/accounting-and-the-united-states-economy-146503/>