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Finance for decision makers Discussion 2

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Q 1. Investigate some of the Sarbanes-Oxley (SOX) Act’s provisions for companies from the Internet, periodicals, or academic journals. Select one of these provisions, briefly describe it, and indicate why you think (or don’t think) financial statements will be more trustworthy if company financial executives implement this provision of SOX. 2. Has a company or its leaders (CEO, CFO, Board of directors) been charged and fined or imprisoned due to not adhering to that provision?

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The SOX (Sarbanes-Oxley Act) came into being in the year 2002 in the month of July and chief changes were introduced towards the regulation of financial practice and corporate governance. It received its name after Michael Oxley, Representative and Paul Sarbanes, the Senator. They happened to be their chief architects and several deadlines that were non-