The Sarbanes-Oxley Act
The Sarbanes –Oxley Act of 2002 has increased integrity of business dealings and financial reporting. Over the past decade, there were a huge number of corporate fraud cases. Companies were creating fraudulent accounting statements. In order to accomplish massive fraud, fictitious sales, inflated inventories, and phony profits were invented by corporate schemers. Companies such as Sunbeam, Waste Management, Rite-Aid and some others were some of the earlier cases before getting to the larger scandals involving Enron, WorldCom, Adelphia, Qwest and Global Crossing.
The Sox Act has required companies to establish internal controls along with procedures for financial reporting (Koestenbaum, Keys, & Weirich, 2009). The act forced those in management
The Sox Act has required companies to establish internal controls along with procedures for financial reporting (Koestenbaum, Keys, & Weirich, 2009). The act forced those in management