Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
6.
Company members falsifying, altering, destroying or otherwise tempering with organizational documents risk punishments between fines up to 20 years imprisonment
7.
Organizational staff members notifying their superiors or the legal authorities of fraudulent operations are protected under the whistleblower protection provision. People who retaliate against the individuals who offer condemning information of the company are punished with anything between a fine up to ten years imprisonment (Prahalad, 2008).
As an addition to these provisions, it is automatically implied that the auditor will keep an objective opinion and will perform his tasks within the highest standards of professional quality. Yet, since it is possible for the auditor to have shares in the respective organization, have a child employed there or other such situations, he is asked to identify the existence of any conflicts of interest and withdraw from the audit process.
At a first level, the Sarbanes-Oxley act was expected to lead to increased organizational expenditures due to necessities of complying with more regulations and necessities of hiring specialized accountants and auditors within company teams. Additionally, aside incremental expenditures, impacts were observable in terms of organizational functions and internal efficiencies. While the organizational functions became more complex, a necessity aroused in the separation of accounting from control and consultancy (Fass, 2003). This led to decreased organizational...
This consequently led to an increased trust of both consumers as well as investors in the business sector. "Overall, the Act has strengthened the Commission's [the Security and Exchange Commission] ability to obtain meaningful remedies as well as powerful but fair sanctions against wrongdoers, aided in the greater return of investor funds, created new causes of action, provided the Commission with more flexibility in choice of forum, and enhanced the Commission's ability to continue to conduct thorough, effective, and fair investigations" (Donaldson, 2005).
References:
Donaldson, W.H., 2005, Testimony Concerning the Impact of the Sarbanes-Oxley Act, Securities and Exchange Commission, http://www.sec.gov/news/testimony/ts042105whd.htm last accessed on May 20, 2010
Fass, a., 2003, One Year Later, the Impact of Sarbanes-Oxley, Forbes, http://www.forbes.com/2003/07/22/cz_af_0722sarbanes.html last accessed on May 20, 2010
Prahalad, a., 2008, Key Provisions of the Sarbanes-Oxley Act, Articles Base, http://www.articlesbase.com/online-business-articles/key-provisions-of-the-sarbanes-oxley-act-509714.html last accessed on May 20, 2010
2006, the Sarbanes-Oxley Act, Sox Law, http://www.soxlaw.com / last accessed on May 20, 2010
Ethical Issues in Business, Tutor2U, http://tutor2u.net/business/strategy/business-ethics-issues.html last accessed on May 20, 2010
The Southwest Airlines The Southwest AirlinesBrief BackgroundThe U.S department of transport 1995 classified its passenger airlines into three categories based on the annual revenue generated. These are a \\\"major carrier\\\" airline that could generate up to $1 billion annually, a \\\"national carrier\\\" that could range between $ 100 million and $1 billion annually, and a \\\"regional and commuter airline\\\" that could generate less than $100 million annually (Pg, 480). Before
Appendix External Analysis 1. PESTEL Analysis 1.1. Political 1.1.1.Global leaders use of social media impacts the political landscape and is able to influence operations. (C-142) 1.1.2. Several high-profile world leaders utilize social media platforms to address their followers, the most notable being U.S. President Donald Trump who tweets regularly to announce global interactions with other political leaders. They also have high interactions and reach with the global community: U.S President Donald Trump had 30.13 million
Indeed, harvest time should not come as a surprise to these professionals, and it is reasonable to assert that given adequate notice and preparation, a sufficient number of casual laborers could be employed for the time period required to complete the harvest in a timely fashion. The company's strategy to close down cultivation had a concomitant impact of further eroding labor-management relations and cost the company around a half
Waste Management: A Strategic Case Analysis Company History External Analysis General Environmental Analysis Demographic Segment Economic Segment Political/Legal Segment Socio-Cultural Segment Technological Segment 103.1.6 Global Segment 103.1.7 Summary of General Environmental Analysis 113.1.8 Driving Forces 123.2 Industry Analysis 123.2.1 Description of the Industry 123.2.2 Industry Dominant Economic Features 133.2.3 Market Size 133.2.4 Market Growth Rate 143.2.5 Industry Trends 153.2.6 Five Forces Analysis 173.2.7 Industry Key Success Factors 184.0 Internal Analysis 184.1 Organizational Analysis 194.1.1 Corporate Mission 194.1.2 Products and Services 194.1.3 Leadership 204.1.4 Organizational Culture Structure 204.1.6 Strategy 214.1.7 Summary of Organizational Analysis 214.2 Analysis of Firm Resources 214.2.1 Tangible
UK Wine Import Industry Within this report, an analysis will be provided of the wine import industry in the UK. Initially, an environmental analysis will be provided. This will be followed by a competitive analysis of the UK wine import market. The report will conclude with a summary of key findings. Environmental Analyses The history of grapevine cultivation, wine production and wine importing/exporting is both interesting and relevant to understanding the current
American Airlines: Analysis and Discussion American Airlines History (adopted from American Airlines, 2011) American Airlines was formed in 1934 through the consolidated act of American Airways Inc. And several airline subsidiaries that had been acquired by the Aviation Corporation between 1929 and 1930. Cyrus Smith Rowlett was elected president -- a position he held until his appointment as U.S. Secretary of Commerce in 1968. By 1940, American had become the leading domestic carrier