Sarbanes-Oxley and Corporate Governance Paper.docx

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1 Free Enterprise Fund v. Public Company Accounting Oversight Board The Sarbanes-Oxley Act is an example of a government agency that is not overseen by the government. The Sarbanes-Oxley Act is something that Congress should have put more thought into before making it the law. I believe that in some agencies the President should have no control over. Once the head of that agency is replaced, they are hired till the next President picks a replacement, or they break a law or policy. The Department of Justice is one that I believe the President should not have control over. The Public Company Accounting Oversight Board (PCAOB) is one of the agencies that the President should have control over. Financial Experts The ruling on this decision was based on the constitutionality of the Sarbanes-Oxley Act based on the rules for terminating a member of the Board. The decision if the Sarbanes-Oxley Act works have been contested by many businesses. According to Romano (2005) “A few studies find that having a director with financial expertise improves performance and, more specifically, that complete independence is less significant than expertise with respect to the relation between audit committee composition and accounting statement quality. These results are notable in that SOX
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  • Spring '15
  • NikkiChtaini

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