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ACC 230 Week 1: An Analysis of the Sarbanes-Oxley Act: Provisions, Ethical Boundaries, and Impact on Financial Reliability

An examination of the Sarbanes-Oxley Act's impact on financial ethics and reliability.

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    ACC 230 Week 1: An Analysis of the Sarbanes - Oxley Act: Provisions, Ethical Boundaries, and Impact on Financial Reliability ACC 230 WEEK 1 DQ 2 Search the Internet or the Online Library for information about the Sarbanes - Oxley Act. A useful guide to some of these provisions is located at http://www.soxlaw.com . Summarize at least two provisions of the law, and discuss your interpretation of these provisions with your classmates. Do you think this law will make financial statements more reliable? Also, discuss how Sarbanes - Oxley establishes boundaries to ensure ethical practices. What does the law allow or prohibit, and why? The Sarbanes - Oxley Act Section 302 describes the responsibilities of the corporation in regards to their financial statements. According to this section corporations must follow regulations such as representing true and accurate information on their financial statements and that the reports are reviewed by signing officers. The Sarbanes - Oxley Act Section 302 ensures that financial statements are reliable based on their requirements for financial statements to be reviewed by the signing officer. The Sarbanes - Oxley Act Section 409 states that the corporation must provide the public with information on any financial changes in a form of communication that is easily understandable by the public. This information provides information to the public before it is included on the financial statements at year end for individuals. This ensures that the information provided to the public is also provided on the financial statements.

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