Sox Discussion- NO apa format- no min word count
- Identify situations that might lead to unethical practices and behavior in accounting. Do you think the Sarbanes-Oxley Act has made a difference in the ethical behavior of companies regarding their financial accounting?
- Why or why not?
Accounting is a type of language or mechanism put together to give information concerning financial position of a business or organization. The information provided is crucial to the investors because it gives them detailed information that may become determining factors on decision to invest or not. Thus, it is easy to find unethical behavior in this field of accounting. Unethical practices typically come in various forms. Some of the major situations that may lead to unethical practice include misuse of funds, misleading financial analysis to obtain personal gains, bribery, inside trading, exaggerating revenue, manipulation of financial markets. Two major examples of unethical practices are those of 2002 the WorldCom and Enron/ Anderson scandal. The two companies…