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Sarbanes-Oxley Act Does this legislation affect ethical

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I need help in addressing the following questions:

Sarbanes-Oxley Act
Does this legislation affect ethical or legal behavior or both? Why?
Do you agree with the following statement: "If directors and officers of American corporations were ethical, we would not need legislation like the Sarbanes-Oxley Act"? Why, or why not?
Some commentators have stated, "You cannot legislate morality." Is the S-O Act an attempt to legislate morality? Why, or why not?

In your responses to these questions make sure you provide extensive factual and relevant source material to substantiate your findings and conclusions.

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Does this legislation affect ethical or legal behavior or both? Why?

SOX affects both legal and ethical behavior. The SOX Act was first put into action because of the massive accounting scandals that took place in the early 2000's. When Enron and WorldCom collapsed due to accounting fraud, it literally shook the economy. In response, SOX was created in an attempt to prevent the same type of event from again taking place. The SOX Act was formed with both ethical and legal requirements. On the ethical side, the main regulation in SOX requires that the CFO and CEO of the company personally sign an affidavit attesting to the validity of ...

Solution Summary

Sarbanes-Oxley Act
Does this legislation affect ethical or legal behavior or both? Why?
Do you agree with the following statement: "If directors and officers of American corporations were ethical, we would not need legislation like the Sarbanes-Oxley Act"? Why, or why not?
Some commentators have stated, "You cannot legislate morality." Is the S-O Act an attempt to legislate morality? Why, or why not?

In your responses to these questions make sure you provide extensive factual and relevant source material to substantiate your findings and conclusions.

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