This post addresses the goal of SOX and related issues.
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Congress passed the Sarbanes-Oxley (SOX) Act in the wake of several high-profile corporate accounting frauds. What is the goal of SOX? What provisions of the act help ensure that the goal is achieved? Are there any parts of the act that you find particularly important?
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The solution explains the goal of SOX, the provisions that help ensure the goal is achieved, and if there are any parts of the act that are particularly important.
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The goal of SOX is to ensure that companies are creating financial statements that are transparent, which protects the investors. By making the financial statements transparent, the investors can deem the information as reliable and can therefore use the information contained in the financial statements as a solid base ...
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