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The Impact of the Sarbanes Oxley Act on Human Resource Management

...... Through its accounting firm, the likewise large-scaled Arthur Andersen, Enron lied about its profits and stands accused of a range of shady dealings, including concealing debts. (BBC News, 1) The companys top executives had misled investors and shareholders with regard to actual performance indicators and stock values, creating a false investment atmosphere which persisted for years as a front for the embezzlement of top officials. When the companys collapse became inevitable, its shareholders collectively pulled out, forcing the company to file for Chapter 11 bankruptcy. Its ethical misappropriation would send a shockwave through the corporate world, contributing to the outright dissolution of control over Arthur Andersen, the destruction of Enrons employee pension fund, the onset of a federal probe into the companys clear improprieties and the consequent revelation of an epidemic of corruption in the corporate world at large. And to this last effect, as with Enron, for many other companies guilty of the same fraudulent practices, the consequences would be total collapse
In examining the cases at Enron, WorldCom, Tyco and Adelphia, to name the most significant scandal revelations amongst innumerable more, it becomes increasingly clear that there exists a direct connection between specific operational problems and this