Sarbanes-Oxley - Running head: SARBANES-OXLEY 1...

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Running head: SARBANES-OXLEY 1 Sarbanes-Oxley Joey D. Finley Kaplan University
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Sarbanes-Oxley Class and Professor, 1. Do you think the requirements of the Sarbanes-Oxley Act will deter fraud? Why or why not? a. Do I think the SOX will defer fraud? Yes I believe it will do a better job having been put into action since 2002. Businesses are required to present financial reports to a third party verification company putting each business’s feet to the fire. That might sound bad, but each one that has done their accounting legally and thoroughly will have very little or no harm done to them, legally speaking. Now this is not to say that I would not be so naïve to believe that there are those that will try and possibly get away with trying something different to hide or not disclose something, but hopefully the verifications will prove that the SOX is a true and effective way to ensure ethical responsibility in doing business! In a 2007 interview 5 years after its passing Sen. Paul S. Sarbanes, said “Our intention with this legislation,” he says, “was to establish a good solid framework within which people could go about their business. We want them to do it in an honest and ethical way and we hope that is the way most people
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This note was uploaded on 03/29/2011 for the course ECON 101 taught by Professor Smith during the Spring '11 term at University of Phoenix.

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Sarbanes-Oxley - Running head: SARBANES-OXLEY 1...

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