TU The Future of Sarbanes Oxley Maintaining a Culture of Ethics Analysis
Description
Part 1
Read the article, Ethics Evolution in the Era of Sarbanes-Oxley. The article examines the changes in corporate governance due to Sarbanes-Oxley Act of 2002. SOX Section 406 requires SEC registrants to report whether they have adopted a written code of ethics covering principal executives, chief financial officers (CFOs), accountants, and controllers. Do you think maintaining a culture that emphasizes ethics and compliance is challenging with the lingering effects of the financial crisis of 2008-2009? Why or why not?
Part 2
Corporate governance scandals are still commonplace with Green Mountain Coffee, Chesapeake Energy, Wal-Mart, and Groupon being among the latest examples since the enactment of the Sarbanes-Oxley Act of 2002. The fact is that Sarbanes-Oxley was well-intentioned but didnt address the real problem of board of directors corporate governance.
Read the article, The Effectiveness of SOX Regulation: An Interview Study of Corporate Directors. Discuss how the Act can address the problem of corporate governance and ethics more effectively.
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