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 didn’t 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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