SOX - Ashley Ekola ACCT 201-005 Dorman Sarbanes-Oxley Act...

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Ashley Ekola August 31, 2007 ACCT 201-005 Dorman Sarbanes-Oxley Act In July of 2002 the United States Congress passed the Sarbanes-Oxley Act , also recognized as the Public Company Accounting Reform and Investor Protection Act of 2002 . The fundamental idea behind this piece of legislation was to bring to an end to the top management that were allowing figures to be skewed while using actual accounting techniques to make it look as if they had elevated numbers. Now, it is the responsibility of the upper management to make certain that each and every regulation is being followed. And if those set regulations are not being followed then they, the top management, are held accountable, instead of the stockholders, who in reality ‘own’ the corporation. There are eleven parts, or titles, in this act. There are a couple of these titles that I would like to explain so that the overall idea of the act is understood. The first title introduces the Public Company Accounting Oversight Board (PCAOB).
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