Sarbandes Oxley Act

INTRODUCTION On July 30, 2002, President George W. Bush subscribe the Sarbanes-Oxley Act, devising it a unite States federal rectitude. This bill was enacted in response to a number of major somatic and be scandals, close to of which include those affecting Enron, Tyco International, Adelphia, Peregrine Systems, and WorldCom. The Sarbanes Oxley Act was widely support by the United States government. The bill was approved by a select of 423-3 by the brook, and 99-0 by the Senate (Those Guys! Sabanes & Oxley, 2002-2006). President George W. Bush signed it into law stating it included the most far-reaching reforms of American business practices since the poop dimension of Franklin D. Roosevelt (Bumiller, 2002). CREATORS OF THE SARBANES-OXLEY fare OF 2002 The Sarbanes Oxley Act is named after Senator capital of Minnesota Sarbanes and Representative Michael Oxley. Paul Sarbanes was a Democrat that represented Maryland in the United States Senate. He served in the Senat e from 1977-2007. Michael Oxley was a Re human beingsan that represented the fourth congressional district of Ohio in the U.S. House of Representatives. He was in the House of Representatives from 1981-2006. Mr. Sarbanes and Mr. Oxley were the sponsors and architects of the Sarbanes-Oxley Act of 2002 (Associates, 2003).

THE SARBANES OXLEY ACT OF 2002 The Sarbanes-Oxley Act, created in the wake of galore(postnominal) collective accounting scandals, was created to help instill more government agency in investors about the nations public securities markets. The corporate scandals caused lot prices of the com panies involved to collapse, which cost inve! stors billions of dollars. The Sarbanes-Oxley Act set youthful or enhanced standards for all U.S. public company boards, management, and public accounting firms. It does not apply to privately held companies. The legislation radically redesigned federal regulations of public company corporate governance and report governance. It alike significantly tightened accountability standards for...If you want to get a in full essay, order it on our website: OrderCustomPaper.com

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