Was the SOX Act Reactions Appropriate?
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Do you think that Sarbanes-Oxley Act of 2002 was the right reaction to the accounting scandals associated with Enron and WorldCom and in light of 2008-2009 accounting scandals, has it been effective in preventing accounting misconduct? What are some of the criticisms and praise of the act?
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Solution Summary
This solution is a 225 words of analysis of the Sarbanes-Oxley Act of 2002 - which was enacted in response to accounting scandals associated with Enron and WorldCom - and gauges whether it has succeeded in preventing accounting misconduct. It weighs the advantages and disadvantages of the act and points out the associated criticisms and praise.
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In analyzing the Sarbanes-Oxley act of 2002, I feel that this act was an important stepping-stone in the right direction, in response to the financial scandals that plagued Enron and WorldCom. The scandals of Enron and WorldCom shook consumer faith and confidence in the corporate management of private organizations. These were not the only two companies ...
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