Sarbanes-Oxley: Benefits vs. Costs Sarbanes-Oxley: Benefits vs. Costs The American Competitiveness and Corporate Accountability Act of 2002, commonly referred to as the Sarbanes-Oxley Act (SOX) was enacted in response to corporate financial scandals involving companies such as Enron, WorldCom, and Tyco International. While SOX was written specifically for public companies; a few provisions, including whistleblower protection and document retention apply to all companies and nonprofit organizations
Words: 1502 - Pages: 7
Strengthening Corporate Accountability and Responsibility with Sarbanes-Oxley Act and COSO Enron, Arthur Andersen, WorldCom. What does these companies and others have in common? They involved audit and corporate governance failures, resulting in the erosion of public confidence. Because of these high-profile corporate and accounting scandals, Congress passed the Public Company Accounting Reform and Investor Protection Act, commonly known as the Sarbanes Oxley Act of 2002 (SOX). SOX mandated
Words: 1083 - Pages: 5
ANNUAL REPORT 2014 Table of contents ABOUT THE COMPANY Letter of Transmittal Corporate Information Milestones Board of Directors and Management Brand Values Products 3 4 5 6 -8 9 10 OPERATING RESULTS Summary of Key Operating & Financial Data 11-12 AGM & COMPANY PERFORMANCE Notice of 35th Annual General Meeting Chairman’s Message to Shareholders Report of the Board of Directors 13 14 ANNUAL REPORT 2014 15 - 19 1 Table of contents COMPLIANCE REPORT Corporate
Words: 25973 - Pages: 104
the Sime Darby Group (Sustainability Report 2011) We are committed to making the Global Compact and its principles part of the strategy, culture and day-to-day operation of our company, and to engaging in collaborative leading others corporations to follow. This submission shows that we express our intent to advance principles one and eight of the ten principles of the UN Global Contract comply within our sphere of influence local network (Sustainability Report 2011). Principle 1: “Businesses
Words: 1145 - Pages: 5
professional activities. The purpose of this report is to review Threats to Compliance with the Code of Conduct by Professional Accountants. With the expanding business in the modern world, issues arise on professionalism of Independent and Internal Auditors. Is it whether the Professional Accountants follows the ethical code provided by the International Ethics Standards Board for Accountants in order to provide true and effective financial reports to the internal and external users? Professionals
Words: 3543 - Pages: 15
Ethics and Compliance Paper FIN/370 July 14, 2011 Ethics and Compliance Paper Introduction Starbucks boasts that they serve the best coffee possible to meet their mission to inspire and nurture the human spirit, one person, one cup, and one neighborhood at a time. Starbucks has grown from one store in Seattle founded by two teachers and a writer in 1971 to more than 17,000 stores throughout the United States and overseas companies. Of these, 53% are directly owned by Starbucks and the rest
Words: 1693 - Pages: 7
| | | |Topic 1: The factors influencing corporate culture | |LECTURER: |Trangdtt | |STUDENT:
Words: 984 - Pages: 4
of mobile telecommunications corporate governance firms in Zimbabwe. By Mugombe Godfrey Background and Introduction The purpose of this study is to provide insight into the association between business performance of the telecommunications sector in Zimbabwe and corporate governance practices as prescribed in the Organization for Economic Cooperation and Development (OECD). It is widely believed that better corporate governance manifest itself in enhanced corporate performance and lead to higher
Words: 1395 - Pages: 6
Aspects of the Regulatory Environment In 2001, one of the largest corporate scandals unraveled as Enron/Andersen was accused of corporate fraud. Not long after were companies such as ImClone and Global Crossing were deemed under the same fraudulent activities and congress did very little in correcting the situations. (Larry Bumgardner, 2003) Several committees did hold hearings and a number of bills were introduced to address corporate misconduct. However, the differences between the Senate under Democratic
Words: 1495 - Pages: 6
organization looks into various companies that go extra mile to display the utmost ethical behavior possible (Ethisphere, 2012). Time Warner, Inc. displays admirable ethics policies and outstanding corporate social responsibility endeavors. In addition, Time Warner, Inc. has displayed an abundant amount of corporate responsibility. Time Warner may be recognized on many different levels as one of the ethical and socially responsible companies, yet that does not go without the occasional scandal. Due to the
Words: 656 - Pages: 3
