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Essay / Research Paper Abstract
A 3 page reaction paper on the Sarbanes-Oxley Act of 2002. Bibliography lists 1 source.
Page Count:
3 pages (~225 words per page)
File: JR7_RAsarox.rtf
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Unformatted sample text from the term paper:
to such problems as seen in Enron, which ultimately cost people billions of dollars (Wikipedia, 2008). The following paper offers a reaction to the act through examining its content and
purpose. Sarbanes-Oxley Act of 2002 As noted, this act was passed because of various "major corporate and accounting scandals including those affecting Enron, Tyco International, Adelphia, Peregrine Systems
and WorldCom. These scandals, which cost investors billions of dollars when the share prices of the affected companies collapsed, shook public confidence in the nations securities markets" (Wikipedia, 2008). It
was named after the men who sponsored the act; Senator Paul Sarbanes and Representative Michael G. Oxley (Wikipedia, 2008). In all honesty, anyone who was paying even the slightest bit
of attention to the media when these scandals appeared will clearly understand that new legislation, as put forth by these men, was crucial and incredibly necessary. But, at the same
time, without serious research and a strong economic understanding, it is difficult to say if the Act helped in relationship to problems seen today in the economy.
It may be that the legislation created an environment that kept the present economic chaos from being even worse, or perhaps that it aided in
creating the situation present in todays economy. In addition, one could argue that this Act, if implanted earlier, would have helped prevent the disasters that took place. But, then again,
the world of business has many ups and downs and it seems that with the nature of corporate business and greed there would be some other kind of scandal or
disaster. Within the Act there are 11 titles, which break down the focus and the legislation. Prior to discussing these it
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