the Sarbanes-Oxley Act.docx - Surname 1 Students Name...

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Surname 1 Student’s Name Professor’s Name Course Date Ethics The act was titled after those who sponsored it Michael Oxley Paul Sarbanes, D-Md and, R-Ohio.it is recognized as Sarbox and in 2002 it became law. The body that was liable for enforcing it was the Security and Exchange Commission. A lot of people believed it was going to make America an unattractive dwelling to do commerce and that the act was going to be too disciplinary and very costly. But it became clearer that it was truly on the correct path. Some of the subjects that were deliberated and discussed about by it include: Unit 404 and Accreditation This sector obligated corporate administrators to explain the exactitude of financial accounts for themselves, if manipulations were found the CEO would serve a total of 20 years in penitentiary. This subdivision made managers maintain an suitable inner governance arrangement and financial reportage. The body used this unit to case over 200 public law files but only a few CEOs have been jailed and faced illegal charges ( Chhaochharia, 1409 ).
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