Sarbandes Oxley Act

INTRODUCTION On July 30, 2002, President George W. Bush gestural the Sarbanes-Oxley Act, making it a linked States federal rectitude. This bill was enacted in reply to a number of major somatic and be scandals, some(a) 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 age 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 Senate from 1977-2007. Mi chael Oxley was a Rerealityan that represented the twenty-five percent 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 umteen somatic accounting scandals, was created to help instill more self-assurance 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 in the raw 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 insurance coverage governance. It al ike significantly tightened accountability s! tandards for...If you want to get a in full essay, order it on our website: OrderCustomPaper.com

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