INTRODUCTION On July 30, 2002, President George W. Bush write the Sarbanes-Oxley Act, devising it a joined States federal rectitude. This bill was enacted in reaction to a number of major somatic and be scandals, many another(prenominal) of which include those affecting Enron, Tyco International, Adelphia, Peregrine Systems, and WorldCom. The Sarbanes Oxley Act was widely back up 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 meter 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 Se nate from 1977-2007. Michael Oxley was a Re universean that represented the poop 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 many incorporated accounting scandals, was created to help instill more potency in investors about the nations public securities markets. The corporate scandals caused lot prices of the companies involved to collapse , which cost investors billions of dollars. ! The Sarbanes-Oxley Act set tender 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 reporting governance. It alike significantly tightened accountability standards for...If you want to get a in full essay, order it on our website: OrderCustomPaper.com
If you want to get a full essay, visit our page: write my paper