Assess the requirements of the Sarbanes-Oxley Act related to accounting quality, indicating whether or not you...

Assess the requirements of the Sarbanes-Oxley Act related to accounting quality, indicating whether or not you believe the requirements are sufficient to protect stockholders and potential investors. Provide support for your position.

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ANSWER:

The requirements of the Sarbanes-Oxley Act (SOX) related to accounting quality are:

Creation of Public Company Oversight Board for managing, directing, examining and teaching bookkeeping firms in their parts as evaluators of open organizations.
A prerequisite that open organizations assess and uncover the viability of their inward controls, as they identify with money related detailing and that free evaluators for such organizations 'validates such exposures.
Certification of monetary reports by CEOs and CFOs.
Auditor Independence.
A necessity that organizations recorded in stock trades have completely free review boards of trustees.
Ban on most individual advances to official officer or chief. • Accelerated revealing of insider exchanging.
Prohibition on insider exchanges amid annuity finance power outage periods.
Additional revelations.
Enhanced criminal and common punishments for infringement of securities law.
Significantly longer most extreme correctional facility sentences and bigger fines for corporate administrators who purposely and wilfully misquote monetary explanations.
Employee insurances permitting that corporate extortion shriek blowers who document grumblings with OSHA inside 90 days.

ekkarill92 answered 1 year ago

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