The needs and implications of the Sarbanes-Oxley Act of 2002

The needs and implications of the SARBANES-OXLEY ACT OF 2002 GENERAL BACKGROUND The Enrons and Worldcoms made it clear that the financial markets cannot be left under the tutelage of corporate directors and officers, without oversight authority. The corporate abuses and fraud that Enron exemplified, while not a first in the financial markets, they were certainly a first in terms of the magnitude of the losses to stockholders and the confidence the public reposed in the …

…uk/features/1142129 (accessed 28 October 2003) MILLER, R.I. & PASHKOFF, P.H. (2002) Regulations Under The Sarbanes-Oxley Act: What Auditors/Audit Committees Need To Know And Do To Comply Journal of Accountancy, October 2002 V. 194 i4 p33(4) REED SMITH (2002) August 2002 Bulletin: Sarbanes Oxley Act of 2002 [online] available at http://www.reedsmith.com (accessed 29 October 2003) STANFIELD, G. (2003) Sarbanes Oxley Act [online] available at http://www.eversheds.com (accessed 28 October 2003) STUDENT ACCOUNTANT (2002) 2002: A Very Bad Year Student Accountant, September 2002 Issue.