How do government regulatory agencies and laws impact business organizations? Choose one or two specific governmental regulatory requirements, and explain what effects they have on business organizations. Determine methods for managing the legal risks and compliance issues that arise because of these requirements.© BrainMass Inc. brainmass.com June 4, 2020, 2:31 am ad1c9bdddf
One of the biggest issues with any imposed regulatory requirement is the cost of compliance. The Sarbanes-Oxley Act (SOX) is a perfect example of this, and how it affects businesses. All public companies must comply with SOX. The cost of compliance is extremely high. The company must take time, money, and resources to ensure that all provisions of SOX are adhered to, and if the company does not do so, they risk being found that that they are not in compliance, which brings with it hefty penalties and serious consequences. When ...
The solution discusses government regulatory agencies and laws that impact businesses. References are also provided.