Essay about FINC615 Stage 1 DB2

п»їSarbanes-Oxley Act


Professor Dr . Yvan Nezerwe

Colorado Specialized University

Tiffany Clanton


Apix Creating, Inc. is actually a private printing company that specializes in advertising, papers, and magazines that has a every week circulation with major Metropolitan newspapers (CTU Course Summary, 2015). Apix is looking to travel public and expand to a more lucrative organization. I have been employed as the VP of Finance to get Apix and I directly report to our Main Financial Expert (CFO), Mary Francis. Each of our goal is always to make sure that we are able to smooth the financial change from a personal business into a public operation. This growth requires fresh investments such as equipment and promotions. In order to do that, we must abide by the regulations from the Sarbanes-Oxley Take action which, in return, will increase management costs. At this point, we should go into a more in-depth look into the Sarbanes-Oxley Act, also referred to as SOX, and review how this Work affects the expansion. SOX was established in 2002 by Democratic Senator of Baltimore, Paul Sarbanes and His party Congressman, Eileen Oxley. The Act was a response to numerous high-profile economic scandals that occurred in the first 2000s with companies Enron, WorldCom, and Tyco that " rattled investor confidence” (Rouse, 2). The purpose of SOX was to increase corporate governance and accountability, which is why every public businesses must adhere to the SOX regulations. The Securities and Exchange Percentage (SEC) enforces the Act. The Work also create a new agency, the Public Business Accounting Oversight Board (PCAOB) which grips " managing, regulating, examining, and disciplining accounting companies in their tasks as auditors of public companies” (SOX-online The Work Summary, 1). Sox primarily affects the financial area of organizations as well as the THIS department. The explanation for this is making sure we, for Apix and any other community company, will know which pair of business records should be placed...

References: SOX-Online. (n. deb. ). В Sarbanes-Oxley Essential Details. Retrieved fromВ http://www.sox-online.com/basics.html

SOX-Online. (n. d. ). В Section 302 of the Sarbanes-Oxley Act. В Retrieved fromВ http://www.sox-online.com/act_section_302.html

Promote, M. (n. d. ). В Sarbanes-Oxley Act (SOX). Retrieved from TechTarget SearchCIO: http://searchcio.techtarget.com/definition/Sarbanes-Oxley-Act