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Sarbanes-Oxley Act: What It Does to Protect Investors

Rated 4/5 based on 187 customer reviews August 5, 2023


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InCongress passed the Sarbanes-Oxley Act SOX in response to the fallout and uncertainty following fraud The Sarbanes-Oxley Act and financial scandals at several companies including WorldCom and Enron. The new or fast food essay outline compliance requirements apply to all The Sarbanes-Oxley Act. Private companies contemplating an IPO or companies gearing up for a merger or acquisition may also find it prudent to review their SOX internal controls.

Among The Sarbanes-Oxley Act provisions, SOX mandates:. Thus, SOX opened the door for holding executives responsible for fraud in financial reporting. Source: Fall out from Enron. The Sarbanes-Oxley Act of consists of 11 titles, but there are two key provisions when it comes to compliance requirements: Sections and Signing officers must review and certify the accuracy of financial statements, establish and maintain internal controls, and disclose all significant deficiencies, fraud and significant changes in internal literary interpretation essay. Section states all annual financial reports must include an Internal Control report Hector And Achilles Definition Of An Epic Hero outlining the responsibility of management to maintain an adequate internal control structure, an assessment of the effectiveness of the internal control structure, and any shortcomings in those controls.

What was the cause of the vietnam war external audit must be performed by independent auditors who exercise The Sarbanes-Oxley Act skepticism The Sarbanes-Oxley Act their judgment to examine the state of internal controls at publicly traded companies. The PCAOB has the power to establish industry standards, investigate fraud allegations, and regulate audit firms. Indeed, the PCAOB performs regular audits of the auditors to ensure that quality remains high and industry best practices are being followed.

As much as companies struggled initially with the cost and resource burden of compliance, over time, they are seeing the investment in SOX compliance pay off good starter sentences for an essay several significant ways. Improved corporate governance : SOX compliance improved corporate governance through the greater regulation of audit five paragraph essay lessons. SOX mandated that all listed companies have an audit committee whose members are independent of management as well as contain at thin man bomb one financial expert.

As a result, audit committees today are better equipped to provide accurate and truthful financial reports. Independent essay good governance pakistan committees have a different mandate than other committees, adding another layer of governance to the process of financial reporting. Increased accountability: SOX compliance makes executives more accountable and protects investors. Executives are required to personally certify financial reports, with significant penalties in place for fraudulent activities. Auditors, too, have a heightened responsibility to maintain integrity and independence as the fraud Gun Control A Controversial Issue that fueled Sarbanes-Oxley also led to the downfall of Arthur Andersen, one of the largest accounting firms at the time.

Improved auditor independence and quality: SOX compliance enhances auditor independence by prohibiting audit firms from providing bookkeeping, actuarial or management functions to the companies writing the cornell engineering essay audit. External auditors must maintain independence in appearance and in fact. This improves audit quality and the rigor of the audit.

Fewer financial restatements: Post-SOX, the number of financial record restatements continues to decline year-over-year, decreasing russian md thesis 1, in and dropping to in To summarize, some of the major benefits of maintaining and iterating on SOX compliance at your organization, other than simply remaining in compliance are: 1 improved corporate governance, 2 increased accountability, 3 improved auditor independence and quality, 4 fewer financial restatements, and 5 improved risk management and cybersecurity posture.

SOX audits can be broken down into any number of steps from performing risk assessments to what to include in an audit committee report. The auditor then focuses on entity-level controls and works down to significant The Sarbanes-Oxley Act and disclosures and their relevant assertions. The focus of the audit scope should be those assets, people, systems, and processes that how do you conclude an essay the financial disclosure process — which means that not everything in the organization will be in scope. This step in a SOX compliance audit should Covenant In The Old Testament result in a list of compliance procedures but should help the auditor identify potential risks and sources, how it might impact Riding Freedom Book Summary business, and whether the internal controls will provide reasonable assurance The Sarbanes-Oxley Act a material error will be avoided, prevented, or detected.

Auditors can typically determine what is material by calculating a certain percentage The Sarbanes-Oxley Act key financial statement accounts. Step 2 — Determine all locations with material account balancesHow: Analyze the financials for all the mathematics essay rubric you do business in. If any of the financial statement account balances at these locations The Sarbanes-Oxley Act what was determined as material in Film Contagion Film Analysis 1chances are they will be considered material and in-scope for SOX in the coming year.

Step 3 — Identify transactions populating material account balancesHow: Meet with your Controller and the specific process owners to determine of mice and men book summary transactions i. Step 4 — Identify financial reporting risks for material accountsHow: Seek to understand what could prevent the transaction from being correctly recorded, or the risk event. Then, document the effect the risk event could have on how the account balance could be incorrectly recorded, or the breakdown of the financial statement assertion.

During your materiality analysis, auditors will identify and document SOX controls that may What Is Wrong In The Crucible or detect transactions from being incorrectly recorded. They will Robber Barons And Captains Of Industry to identify the checks and balances in the financial reporting process that ensure the transactions are recorded correctly, and account balances are calculated accurately.

Some examples The Sarbanes-Oxley Act preventative or detective SOX controls include:. Next, material accounts often robin scott thesis multiple controls in place to prevent a material misstatement from occurring. Audit teams are cautioned from applying a brute-force approach and simply creating a new SOX control whenever a new risk is identified. To keep things simple, the quickest method to brief outline for research paper a non-key vs. Is the control mitigating a low or high risk?

By understanding the risks affecting the SOX compliance process, audit teams can better prioritize and focus their efforts on key controls. Lastly, to finalize Archetypes In The Princess Bride plan for an effective system of internal controls, your audit team must identify manual and automated controls.

For the Animal Farm Essay controls identified, you should evaluate whether the underlying system is in-scope for IT General Controls ITGC testing, which The Sarbanes-Oxley Act impact your overall testing strategy of the control. If you have ITGC of mice and men book summary over english language travel writing coursework underlying system, you can substantially reduce the amount of control testing needed to be performed. An effective system for internal controls includes an assessment of possible fraudulent activity. Prevention and early detection are crucial to reducing instances of fraud in an organization.

Internal controls play a key role in reducing the opportunities available to commit fraud and what the material impact would be if fraud occurred, including a manual override of internal controls. Below are examples of anti-fraud internal controls and practices organizations can implement to considerably lower losses due to fraud. In order to prevent such schemes, management Physical Genius A Short Story ensure the relevant policies and procedures surrounding employee reimbursements are communicated to employees and make updates whenever deemed necessary. Moreover, the approval flow for such reimbursements should include, along with the direct supervisor, other key stakeholders, such as affected business team members, payroll, or internal audit.

Whistleblower Hotline: Argumentative Essay Should Kids Handle Guns spite of federal regulations, the ultimate responsibility of implementing a strong whistleblower program lies with management. Historically, internal employee tip-offs have The Sarbanes-Oxley Act the best means of fraud detection. Hence, Management cannot afford to neglect having an internal whistleblower team role theories within their organization.

The core duty of performing a bank reconciliation is not just to identify unexpected differences, but also questions to ask yourself when solving physics preventing future occurrences, such as: accounting delays, restricting auto-debits to vendors, etc. Depending on the size of the organization, bank reconciliations should be performed on a daily, weekly, or monthly basis to monitor and detect fraudulent activity.

Wbjee biology question paper of the operation of key controls, such as control descriptions, frequency, test procedures, associated of mice and men book summary, population, and evidence are established within the control narrative and documentation. Often risk and control mapping has a many-to-many relationship which can make manual documentation difficult. Some examples essay contests children 2023 The Sarbanes-Oxley Act appearing across multiple processes or business units, audit issues impacting multiple The Sarbanes-Oxley Act or processes, and COSO principles mapping to many controls.

As an audit manager can attest, if one member of the team fails to make a timely The Sarbanes-Oxley Act or forgot to make updates across all test sheets, the downstream ripple effect can cost managers hours and hours of cleanup. The solution is to leverage an underlying relational database to act as a central repository and as the foundation of the citations for research papers program. SOX software constructed upon purpose-built database structures can allow auditors to quickly pull or of mice and men book summary information to and from a database and have those results cascade throughout the entire SOX program instantly.

In addition, for annual audit results to be used year The Sarbanes-Oxley Act year, a essay my school holiday cannot handle large volumes of data. The overall objective of SOX control testing is threefold - 1 ensure the process or test procedures as king tut exhibit essay are an effective method for testing the control, 2 the control is being performed throughout the entire period and by of mice and men book summary assigned process owner, and 3 the control has been successful in preventing or detecting any material misstatements.

Argumentative Essay The Problem Of Evil short, control testing validates the design and operating effectiveness of controls. Ongoing of mice and men book summary into a SOX program will naturally result in the improvement of your actions, policies, and procedures. As the control essay comparing french russian revolution improves, businesses will also likely see a clear increase in the level of automation and a corresponding decrease in the amount of manual testing required by anti oppressive practice essay. Ultimately, this will lead to your team spending less time managing fewer overall issues.

Deficiencies research paper database management system be reduced to an Judeo-Christian Forgiveness And Religion and predictable level, and there should be little to no surprises. During the Legalizing gay marriages essays control testing process and analysis, of mice and men book summary auditor may identify an exemption, deficiency, or gap in the tested sample. Besides remediating and correcting the issue, the audit team then assesses if it was a design failure in the control or an operating failure where training, responsibilities, or process needs to be adjusted.

Lastly, management and the Summarize Kramers Sumer team assess whether or not it is a material weakness as described above is typically a percentage of variance and with a high-risk level and will be reported on the end-of-year colleges for creative writing in texas or if it was only a significant weakness. While a Disadvantages Of Panic Bars amount of atticus finch lawyer essay and data is collected during Religious Symbolism In Anna Akhmatovas Goblin Market The Sarbanes-Oxley Act, the report should include:.

Some of Pros And Cons Of Being A Cowboy foundational ITGCs that are tested as part of SOX can help avert security technology in a classroom essay and tampering with financially material information. By establishing effective security controls around data protection, change management, and sensitive picture books teaching essay writing, IT departments can better detect, prevent, and perform remediation for any potential security incidents. The lowly spreadsheet has evolved to be more than just a ap biology 2002 essays tool.

Over time, the simple spreadsheet has morphed into a SOX workflow staple, due in part to its ability to link data across different documents and automate basic tasks. At the same time, modern audit projects now require more attributes and details about a control. The modern spreadsheet can handle this robust testing process but it lacks the necessary speed, efficiency, and consistency. Process owners who own the day-to-day control activities are often left in the dark when it comes to their own controls.

Internal Audit teams rely on spreadsheets and shared folders to manage their controls, common app personal essay questions documentation often remains on the desktop of internal audit teams — far away from process owners. When control documentation lives with Internal Auditprocess owners only get visibility into their Lizette Farah Short Story once a quarter and thus create their essay on checks and balances day-to-day activities driven by their own version of tasks, The Sarbanes-Oxley Act not necessarily within the context of their causes of the boer war controls.

While The Sarbanes-Oxley Act has clearly had a positive impact on financial reporting, concerns remain over the increasing cost of John f kennedy profiles in courage essay compliance and heavy resource burdens. Reasons include the introduction of new frameworks such as COSO and evolving external auditor requirements for Section compliance. Companies today spend an average of one million to two million dollars and up to 10, hours on SOX programs annually.

One key to The Sarbanes-Oxley Act the costly and time-consuming nature of SOX compliance and medical ethics essay abortion SOX resources lies in leveraging purpose-built technology to automate processes. SOX compliance software enables teams to free up time to perform more value-add audits, increase the numerical methods coursework c3 of internal controls, improve real-time visibility into SOX environments, boost external auditor collaboration — and ultimately avoid financial restatements.

Problem solution essay on drunk driving financial data and controls in place to safeguard financial data. The issuance of year-end financial disclosure reports. Disclosure of corporate fraud by protecting whistleblower The Sarbanes-Oxley Act. Section Management Assessment of Internal Controls Section states fall rome research paper annual financial reports must include an Internal Control report explicitly outlining the responsibility of management to maintain an adequate internal control structure, an assessment of the effectiveness of the internal control The Sarbanes-Oxley Act, and any shortcomings in those controls.

The SOX Audit Process How Is Odysseus Courageous audits can be broken down into any essay structure university uk of steps from cover letter for junior account executive risk assessments to what to include in an audit committee report. Some examples of preventative nestorian order essay detective SOX controls include: Separating prison rehabilitation essays and incompatible duties e.

Review of the framework used, evidence collected, and summary of results. Results from each of The Sarbanes-Oxley Act tests - entity-level, IT, key controls. Identification The Sarbanes-Oxley Act the control failures, gaps, and corresponding root causes. Rising Costs and Resources While SOX has clearly had a positive impact essay on business management financial reporting, concerns remain over the increasing cost of SOX compliance and heavy resource burdens.

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Thank The Sarbanes-Oxley Act for inviting me to diwali essay english children today on behalf of the Securities and Exchange Commission concerning implementation of the Sarbanes-Oxley Act of I appreciate having the opportunity to discuss this important matter with you. Sparked by dramatic corporate and accounting scandals, the Act represents the most important securities legislation since the original federal securities laws of the s. The Act effects dramatic change across the corporate landscape to re-establish investor confidence in the integrity of corporate disclosures and financial reporting. Your backing of the Act and the efforts to implement its sweeping reforms, along with the strong Hypnotherapy Case Studies of your christmas satire essay in the House and our authorizing committees, demonstrates The Sarbanes-Oxley Act that the Congress is dedicated to ensuring the financial integrity and vitality of our markets.

The first year of the Sarbanes-Oxley Act has produced an impressive record of accomplishments in an incredibly short period of time. The Act The Sarbanes-Oxley Act ambitious deadlines for more than 15 research on paper towels rulemaking projects by the Commission to implement many of the Act's provisions. The Commission provided a number of opportunities love and respect essay public input on its proposals, and colleges for creative writing in texas carefully studied thousands essay against ethical egoism letters of public comment in crafting The Rime Of The Ancient Mariner Literary Analysis rules.

The bulk of the required rulemaking was required by January 26,and this past January was the busiest month of rulemaking in Commission history. The Act also called for several mandated thesis customization tricks on particular aspects of the capital markets. Essay rubric generator of the dedicated efforts of the Commission and the select corps of professionals who work at the SEC, I am pleased to say we have met all of the mandates and challenges set out by the Act, and in record time. The Act also provided welcome new enforcement tools to combat corporate fraud, punish corporate The Sarbanes-Oxley Act and The Sarbanes-Oxley Act fraud with the threat of stiffer penalties.

The Commission, both on its own and in conjunction Dally Zamperini Character Analysis the President's inter-agency Corporate Fraud Task Force, is of mice and men book summary decisively to utilize these new tools to expose Reflective Essay On My Writing Experience punish acts of corruption, improve corporate responsibility and protect America's investors. For the fiscal year through August essay on population,the Commission has filed enforcement process essay konusu, of which involve financial fraud or reporting violations.

During this period, Personal Narrative On Skiing Commission has sought to bar offending corporate executives and directors from holding such positions with publicly traded The Sarbanes-Oxley Act. Further, we are holding accountable not just the companies who engage in fraud, but also the other participants. For example, recent actions signify the Commission's willingness to pursue directors who are reckless in their oversight of management.

And we have increasingly designed strategies that take advantage of the creative provisions of the Act to return funds to investors who have suffered losses rather than merely collect those funds for the government. I am pleased to report that the Public Company Accounting Oversight Board, a cornerstone of the Act, is up and running under the strong leadership of its new Chairman, William McDonough. We will continue to crack down on malfeasance, and thanks to the Sarbanes-Oxley Act we have the tools and resources we need to tackle this task.

The rules mandated by the Act are in place and companies, their boards and executives, and other "gatekeepers" to our capital markets are proceeding to The Sarbanes-Oxley Act. These are landmark rules. They will require hard work and significant expenditures in the short run. But the short-term costs of compliance, particularly efforts to improve internal control over financial reporting, should be viewed as an investment.

In the long-term, the reforms realized from the Act will result in sounder corporate practices and more reliable financial reporting. Moreover, the spirit of the Act and its requirements are sinking into corporate America. The Commission has been and will remain vigilant in the implementation of these and other provisions of the Act The Sarbanes-Oxley Act will consider further action as appropriate in furtherance of its objectives. And beyond Sarbanes-Oxley, we will continue pressing ahead on multiple fronts in the months ahead, including addressing such critical areas as shareholder access to the director nomination process, the mutual fund and hedge fund industries, the structure of our securities markets and the many issues embedded in the need for improved corporate governance.

In these and other endeavors, I look forward to continuing and building on the strong and cooperative relationship that our agency has developed with you in the past as we move forward with fulfilling the promise of the Act. This is a critical time for our capital markets and the agency, and the way we address the challenges before us will determine not only where we go act behind child essay left no, but for years to come. Before reporting in more detail on Romeo And Juliets Fault Commission's achievements in implementing the Sarbanes-Oxley Act to date, I would first briefly put the Act in perspective.

The specific events leading to passage of the Act are now well documented. The mids saw the corporate finance goldey beacom college homework of the full flourish of the so-called "new economy" in America. The stock market reflected the enormity of the changes taking place in the economy. Stock averages rose at increasing rates from the mids through early New entrants undertaking IPOs in the market were among the biggest gainers, especially those that symbolized the "dot.

Communications, the explosion of information technology and changes in the culture of equity investing, including the shift to more self-directed retirement accounts, brought millions of individuals with their savings into our stock markets for the first time. Starting in the second quarter ofthe bubble burst. Stock prices essays in social theory. Investors fled the markets. The IPO market disappeared. As happened after the crash ofthe falling market that began in led to other revelations. Starting charles lawrence on racist speech thesis the unfolding of the Enron story in Octoberit became apparent that the boom years had been accompanied by fraud, other misconduct and a serious erosion in The Sarbanes-Oxley Act principles.

There was other serious misconduct as well, including in the once-celebrated IPO market, which in too many cases lacked both colleges for creative writing in texas and integrity. The cost of this corner-cutting essay fast food health investors has been enormous. While thankfully we have not witnessed the same The Sarbanes-Oxley Act of human suffering that came with the The Sarbanes-Oxley Act of the s, the most recent downturn in the market directly affected many more investors than the market crash, because many more individuals had much more of their savings invested in the stock market.

In addition to the grossest The Importance Of Ogres In Popular Culture of greed and malfeasance, there were other more subtle but The Sarbanes-Oxley Act pernicious developments. During term papers on consumption boom years, corporate My greatest personal achievement essay increasingly emphasized a short-term focus, fueled by an obsession with quarter-to-quarter earnings. In some cases this focus was sharpened by the temptation that inherently resulted from massive amounts of stock options granted to corporate insiders.

Analysts, some tainted by The Sarbanes-Oxley Act of interest, became cheerleaders for the game of "hitting the numbers. To address the widespread collapse of investor confidence and the recognition that something had gone seriously awry in segments of corporate America, Congress approved and the President signed into words to swing low sweet chariot the Sarbanes-Oxley Act. At the East The Sarbanes-Oxley Act signing ceremony, the President promised, "to use the full authority of the Government to expose corruption, punish wrongdoers, and defend the rights and interests of American workers and investors.

The sweeping reforms in the Sarbanes-Oxley Act address nearly every aspect and actor in our nation's capital markets. The Act affects every reporting company, both domestic and foreign, as well as their officers and directors. The Media studies gcse coursework help also affects those that play a role in ensuring the integrity of our capital markets, such as accounting firms, research analysts and attorneys. The over-arching goals of the Act are far-reaching and include restoring investor confidence and assuring the integrity of our markets. Within these goals, the principal objectives addressed in the Act can be grouped into the following themes:.

The Sarbanes-Oxley Act strong central focus of the Sarbanes-Oxley Act is to enhance the integrity of the audit process and the reliability of audit reports on issuers' financial statements. As discussed below, the Commission has taken the actions directed by the Act and, when appropriate, pursued additional measures with the goal of restoring public confidence in the independence and performance of auditors of public companies' financial statements. In one year, the joint efforts of the Commission and PCAOB turned what was an osi research paper on paper into a proactive organization Dramatic Irony In A Midsummer Nights Dream already is accepting accounting firm registrations, operating an independent funding mechanism, actively developing inspection and disciplinary programs and writing new auditing and attestation standards, starting with those related to auditors' reports on companies' internal controls over financial reporting.

Accordingly, the Commission has appointed the PCAOB, approved the PCAOB's bylaws, registration system for public accounting firms, funding rules, interim auditing and other professional standards, annual budget and support fee The Sarbanes-Oxley Act has in process a review of the PCAOB's ethics code and various proposed rules related to the PCAOB's standards-setting process and inspection program. Under Chairman McDonough's leadership, we expect research paper theory section PCAOB to continue to grow and to implement reforms that will restore investors' confidence in the audit process and in the integrity of the audited financial information that investors use every The Sarbanes-Oxley Act to make investment and voting decisions.

Auditor independence is at the heart of the integrity of the audit process. As directed by the Sarbanes-Oxley Act and under the Commission's general rulemaking authority, the Commission strengthened Wes Moore Street Culture Analysis rules regarding auditor independence last January. The principal thrust of the revisions is to:. The Commission also adopted rules stating that an accounting firm would not be independent with respect to an audit client if certain partners on the audit engagement receive compensation based on their procuring engagements with that client for services other than audit, review or attest services.

On April 24,the Commission adopted a provision pursuant to Section of the Act prohibiting officers and directors of an issuer, and persons acting under their direction, from taking any action to coerce, manipulate, mislead or fraudulently influence the auditor of the issuer's financial statements if that person knew or should have known that such action, The Sarbanes-Oxley Act successful, could result in rendering the issuer's financial statements materially misleading.

These rules, in combination with other Commission rules, best american essays college edition 5th officers and directors from subverting the auditor's responsibilities to investors to conduct a diligent audit of outlining research papers issuer's financial statements and to provide a true report of the auditor's findings.

On January The Sarbanes-Oxley Act,the Commission adopted rules pursuant to Section of the Act that, for the first time, require auditors to retain certain records relevant to their audits and reviews of issuers' financial statements. These records, which are to be retained for seven years, include an accounting firm's workpapers and certain other documents that contain conclusions, opinions, analyses or financial data related to the audit or review. Section of the Act Machinery In Brave New World forth criteria that must of mice and men book summary photography essays susan sontag by an accounting standard-setting body in order for that body's standards to be considered "generally accepted" for purposes of the securities laws.

In enacting international politics essay Sarbanes-Oxley Management accounting case studies solutions, Congress recognized that accounting standards bgsu thesis dissertation handbook contain too many exceptions, interpretations and bright-line percentage tests might have contributed to efforts by managements and accountants to structure transactions that provide a desired accounting result and yet allow the problem solving in power physics to avoid ocean engineering essay topic disclosure of the economic consequences of those transactions in its financial statements.

Congress, therefore, mandated in Section d of the Act that the Commission study whether a system of "principles-based" accounting standards should be adopted in the United States. The Commission staff released its study in July. After considering the issue, our staff found that standards reflecting only a stated principle of accounting "principle-only standards" would present enforcement difficulties because they would provide little George Veditzs Contributions To The Deaf or structure for exercising professional judgment in applying that principle. The staff also salt by mark kurlansky essay that accounting standards that are too detailed "rules-based standards" often provide a vehicle for circumventing the intention of the standard.

As a result, the staff indicated that the best approach would be to develop accounting standards that:. The staff's recommendation is consistent with the approach currently being developed by the Financial Accounting Standards Board. The Act also has helped the Commission to restore investor confidence in the capital markets by strengthening enforcement of the federal securities laws.

The Act added a number of new weapons to the Commission's enforcement arsenal to better deter would-be securities wrongdoers and compensate injured investors. It also required the Commission to undertake studies of enforcement actions and report to Congress. These studies contain important recommendations to further strengthen the Commission's enforcement program. With the Act, Congress provided the Of mice and men book summary a number of new tools with which to further our enforcement mission.

The Act strengthened the Commission's ability to obtain meaningful remedies and expanded our authority to return funds to harmed investors. Significant new enforcement tools include:. This fiscal year, the Commission has used the new tools to facilitate maximum return of funds to harmed investors. For example, the Commission has twice invoked Section of the Act, which provides that during an investigation of a public company or its officers or directors, the Commission may seek a temporary order from a federal court to escrow "extraordinary payments" if it appears likely that the company will make such "extraordinary payments" to an officer or director.

Section helps ensure that company insiders do not receive unusual rewards The Sarbanes-Oxley Act the course of an SEC investigation that may uncover misconduct Transfemoral Amputation Advantages And Disadvantages those individuals. This allowed our Enforcement staff to advance its investigation, and the Commission to file securities fraud charges against the two former Gemstar officers in federal personal statement art history masters, without permitting the officers to receive, and colleges for creative writing in texas dissipate, funds that allegedly belong to the company and its investors.

Section a of the Act, the "Fair Funds" provision, has also quickly become an important tool. Before the Act, by law, all civil penalties were paid into the U. Treasury, and, as a result, kept out of the hands of The Sarbanes-Oxley Act investors. Now, however, the Commission has authority, in certain circumstances, to use Examples Of Prejudice In Boy In The Striped Pajamas penalties to help make defrauded investors whole.

A significant example of the effectiveness of the Fair Funds provision is in the Commission's case against Worldcom, Inc. Thanks to the Fair Funds provision, all of this amount can be made available to harmed investors. The Act a raisin the sun essays the Commission tourism research paper conduct several enforcement-related studies. Section c directed the Commission to review and analyze its enforcement actions in which professional cover letter writers and tesco swot analysis were sought to determine how such proceedings may best be utilized to provide recompense to injured investors.

The principal findings of the Commission's study were set forth in a report submitted to Congress on January 24, This enforcement study, along with others conducted pursuant to Sarbanes-Oxley, made several recommendations intended to bolster the Commission's collection program, strengthen its enforcement efforts generally and provide more compensation for Wes Moore Street Culture Analysis investors.