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Purpose of the Sarbanes-Oxley Act of 2002

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Write 200-words describing the requirements and purpose of the Sarbanes-Oxley Act of 2002. What are some of the consequences of non-compliance with the Act? Do you think the Act has solved the problem of unethical behavior in corporate governance?

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Solution Summary

Explains the Sarbanes-Oxley Act of 2002, its purpose, and the consequences of non-compliance with the act.

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The Sarbanes Oxley Act was enacted to ensure that there is transparency in the corporate sector. As a result, companies are required to provide full disclosure of information when asked of them. The act came about as a result of investors being affected by the way corporations provided their services. Therefore, the purpose of the act was to protect investors from fraudulent ...

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Carmel Philistin, MBA/HCM
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  • BA, Brooklyn College
  • MBA/HCM, Phoenix University
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