notes for jasso of SOX

notes for jasso of SOX - Sze Ho Bus 102 Discussion section...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Sze Ho Bus 102 Discussion section 26 Jessica 11/6/07 SARBANES-OXLEY – CONTEXT & THEORY:MARKET FAILURE, INFORMATION On July 30, 2002, President George W. Bush signed into law the Sarbanes-Oxley Act of 2002, also known as the Public Company Accounting Reform and Investor Protection Act of 2002. The Act is the mandate for corporate reform from the massive financial and leadership fraud of the late 1990s and early 2000s. The market in a capitalistic economy offers ownership of the factors of production: traditionally land, labor, capital, resources, knowledge, and entrepreneurship. This ownership is immensely personal, and through ownership, the capitalist is driven to sustain certain freedoms associated with his independence and wealth maximization. A socialist system or the extreme of communism diminishes and eventually removes personal ownership of market factors and transfers them to the government, whereby the government allocates the production of the solutions described above. The
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

notes for jasso of SOX - Sze Ho Bus 102 Discussion section...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online