Explore BrainMass
Share

Explore BrainMass

    Explain the importance of the Sarbanes-Oxley Act

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    1)Explain the importance of the Sarbanes-Oxley Act and how it affects incentive plans. Discuss whether you support this legislation, and state your reasons.
    2)Discuss the main provisions of the Family and Medical Leave Act (FMLA). Explain the implications of FMLA for a family.
    3)Explain how ERISA protects employee pension rights and its relationship to PBGC.
    4)Explain and provide an example of how legal issues affect vacation and holidays.
    175 plus words for each question
    If any citations are used they need to be in proper APA format.

    © BrainMass Inc. brainmass.com April 4, 2020, 1:35 am ad1c9bdddf
    https://brainmass.com/business/leadership-skills-in-human-resource-management/importance-sarbanes-oxley-act-626509

    Solution Preview

    Explain the importance of the Sarbanes-Oxley Act and how it affects incentive plans. Discuss whether you support this legislation, and state your reasons.

    In reference to the importance of the Sarbanes-Oxley Act, its importance can't be overstated as the Act has dramatically changed how corporations within the U.S. operate. Because of provisions within the Act such as the requirement that public companies create audit committees for their organization as well as criminal penalties for lying about a company's financial position and data wherein chief executive officers (CEOs) and chief financial officers (CFOs) must certify the accuracy of the financial data, and criminal penalties for destroying or concealing evidence of a financial fraud or any financial documents under request by government investigators, companies can't operate similar to how they did before the passage of this Act.

    Other important variables associated with this Act includes the creation of the Public Company Accounting Oversight Board, which actually possesses the power to enforce sanctions and start investigations against companies that are not in compliance with the Act. The PCAOB is responsible for monitoring whether the corporation is ...

    Solution Summary

    The expert explains the importance of the Sarbanes-Oxley Act.

    $2.19

    ADVERTISEMENT