Alternative Assignment - Zach Holland B Law 210 3/30/11...

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Zach Holland B Law 210 3/30/11 Alternative Research Assignment Sarbanes-Oxley Act A) The Sarbanes-Oxley Act was put in place in 2002 as a response of corporate scandals and to help regain Americans trust of corporate businesses. ("Sarbanes- oxley: five years," 2007) Business scandals with companies like Enron and WorldCom are the main reason why President Bush signed the act in 2002. Scandals like these two cost investors trillions of dollars. B) This act was put into place to withhold the integrity of our nation’s corporations. The act requires corporate attorneys to report any possible corporate misconduct to corporate officials (Clarkson, 777). The Public Accounting Oversight Board was also created as a result, which forced forms to create independent audit committees (Clarkson, 855). The act also stemmed the creation of new private civil actions and expanded the SEC’s civil actions (Clarkson, 855). This act holds the highest executives of the company to much more scrutiny. In the first quarter of 2008, “hundreds of listed publicy held companies had reported that they had identified and
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This note was uploaded on 02/06/2012 for the course BLAW 210 taught by Professor Mumford during the Spring '08 term at Washington State University .

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Alternative Assignment - Zach Holland B Law 210 3/30/11...

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