RN-SOX - 1 FNU Tiffany Business 102 Call#11614 4 November...

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1 FNU Tiffany Business 102 Call #11614 4 November 2016 Jasso, Sean D. Ph.D. SARBANES-OXLEY – CONTEXT & THEORY: MARKET FAILURE, INFORMATION ASSYMETRY& THE CASE FOR REGULATION , Journal of Academy of Business and Economics, Volume 9 (3) 2009. ISSN: 1542-8710. Central Theme In the article “SOX- Context and Theory: Market Failure, Information Asymmetry & The case for regulation …volume 9(3), Professor Jasso argued that Sarbanes Oxley Act is a principle that be used only for the “ethical and moral boardroom in the public corporation”, however, it is intensely more than that (Jasso, 1). In other words, Professor Jasso had many reasons to proof that the act itself had made a positive impact to the financial and managerial accounting since the ‘July 30, 2002’ (Jasso, 1). He described how SOX had made a virtuous recovery for economic fraud in regard of market place. In other words, professor Jasso is teaching the students to understand how the acts affected the U.S. economy. As professor Jasso stated,” The only consistent criticism on SOX from its inception has been from management, economic, and political scholarship predominantly targeting its financial impact upon the corporation through its rigid compliance mandates. The primary objective here is to understand Sarbanes-Oxley as public policy in response to market failure – that is, when the market stops providing efficient and ethical solutions to society.”(Jasso, 1). Truthfully, Professor Jasso had challenged the students to make an ethical behavior while doing business in the world, especially in the United States. As the SOX acts provided the answer on how the market failure affected the business industry, Professor Jasso gave a realistic analysis on the modern business’ society in which have been used for public and private companies.
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