Sarbanes Oxley Act Essays (Examples)
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Rationale Behind Passage Of The Sarbanes Oxley Act
1. If jail time is off the table for executives, that would be an odd choice. sarbanes oxley creates disincentives for esecutives to commit fraud, such as in Enron. The point of SOX was really to add extra regulatory teeth, added … end up with a punishment lower than the proceeds of the crime. The point of jail time is to provide a deterrent that actually matters for wealthy individuals – loss of their freedom. Without that, the law is not going to be effective.
2. The UK has … because it didn’t have the high profile fraud cases that drove the creation of SOX. In other words, it wasn’t a priority. The sarbanes-oxley Act was written after a series of accounting/fraud scandals had occurred in short succession, to such a degree that public confidence in the capital … series of accounting/fraud scandals had occurred in short succession, to such……
References
References
Jones, H. (2020) UK watchdog backs tougher Sarbanes-Oxley style rules for top companies. CNBC. Retrieved May 4, 2020 from https://www.cnbc.com/2020/03/09/reuters-america-uk-watchdog-backs-tougher-sarbanes-oxley-style-rules-for-top-companies.html
Study Document
Cyber Crime IT Security Auditing
Abstract
Cybercrime, data breaches, and fraud represent evils that significantly threaten businesses. Companies have, in the past, lost much to these crimes and, hence, … Filip, 2010). Internal information security auditing enhances the likelihood of implementation of suitable security measures for averting such breaches and reducing their adverse impacts.
Security risks
Two classes of risks exist, against which corporate information systems require protection: logical and physical. The latter, more to do with … risks exist, against which corporate information systems require protection: logical and physical. The latter, more to do with devices as compared to the actual information system, encompasses natural calamities like floods, earthquakes, typhoons, among others, terror attacks, vandalism, fire outbreak, illegal tampering, power surges, and break-ins. Vlad …
According to a Security Administrator and System Auditor having nearly two decades of experience, it is imperative to routinely monitor the following computer activity domains: user access control, audit……
References
References
Almatari, O. and Helal, I., and Mazen, S., and El Hennawy, S. (2018). \\\\\\"Cybersecurity Tools for IS Auditing.\\\\\\" The 6th International Conference on Enterprise Systems, At Limassol, Cyprus 10.1109/ES.2018.00040.
Davis, W. S., & Yen, D. C. (Eds.). (2019). The information system consultant\\\\\\'s handbook: Systems analysis and design. CRC press.
Diamantopoulou, V., Tsohou, A., & Karyda, M. (2019). From ISO/IEC 27002: 2013 Information Security Controls to Personal Data Protection Controls: Guidelines for GDPR Compliance. In Computer Security (pp. 238-257). Springer, Cham.
Khan, M. (2017). Computer security in the human life. International Journal of Computer Science and Engineering (IJCSE), 6(1), 35-42.
Lenghel, R. D., & Vlad, M. P. (2017). INFORMATION SYSTEMS AUDITING. Quaestus, (11), 178.
Manaseer, S., & Alawneh, A. (2019). ON CYBERSECURITY AUDITING AWARENESS: CASE OF INFORMATION AND COMMUNICATION TECHNOLOGY SECTOR. International Journal of Computer Science and Information Security (IJCSIS), 17(7).
Suduc, A. M., Bîzoi, M., & Filip, F. G. (2010). Audit for information systems security. Informatica Economica, 14(1), 43.
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Self Regulation Proposal
… of self-regulation—on the one condition that certain standards and concepts are applied to ensure that self-regulation does not turn into a license to act unethically.
For Self-Regulation
One of the best reasons for self-regulation is that existing regulation regime is simply not an effective option (Greene & … for example will typically fine offending firms, but in many cases these fines do not cover the losses caused by the offending firm’s actions—nor are they more than a wrist-slap in financial terms (Greene & Odorski, 2015). The Fair Funds provision of the sarbanes-oxley Act (2002) was meant to ensure that fines were placed into a disbursement fund that would then pay out to victims of fraud or … guiding the company’s vision, and the same expectations of behavior inherent in ethical leadership. However, the firm must still be able to monitor activity internally and identify potential abuses or fraudulent activity,……
References
References
Arner, D. W., Barberis, J., & Buckey, R. P. (2016). FinTech, RegTech, and the reconceptualization of financial regulation. Nw. J. Int'l L. & Bus., 37, 371.
Arnone, M., & Padoan, P. C. (2008). Anti-money laundering by international institutions: a preliminary assessment. European Journal of Law and Economics, 26(3), 361-386.
Greene, E., & Odorski, C. (2015). SEC enforcement in the financial sector: addressing
Omarova, S. T. (2010). Rethinking the future of self-regulation in the financial industry. Brook. J. Int'l L., 35, 665.post-crisis criticism. Bus. L. Int'l, 16, 5.
Omarova, S. T. (2011). Wall street as community of fate: Toward financial industry self-regulation. University of Pennsylvania Law Review, 159(2), 411-492.
Pritchard, A. C. (2003). Self-regulation and securities markets. Regulation, 26, 32.
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Volkswagen Emissions Fraud
… at play in the Volkswagen case that can be unpacked. The first of these is the bias towards the optimal motivations of executive action. The company’s senior executive at the time, Martin Winterkorn, was aware of the practice when he ascended to his new role – and had been one of its driving forces during implementation. Further, he continued the practice, and was eventually brought up on fraud charges in the US as a result (Smith, 2018).
The first bias was likely the decision … price. The duty to the buyers is ethical, but not legal, and can probably be interpreted in a number of ways. Thus, WInterkorn’s actions – and indeed the actions of all at Volkswagen in this case – were influenced by personal gain.
Palmiter (2017) provides some insight into the different ethical conflicts … once the moral hazard itself is created, the likelihood of unethical……
References
References
Ganti, A. (2019) Rationcal choice theory. Investopedia. Retrieved January 18, 2020 from https://www.investopedia.com/terms/r/rational-choice-theory.asp
Palmiter, A. (no date). Corporate governance as moral psychology. In possession of the author.
Parloff, R. (2018) How VW paid $25 billion for dieselgate – and got off easy. Business Ethics. Retrieved January 18, 2020 from https://business-ethics.com/2018/02/08/1638-how-vw-paid-25-billion-for-dieselgate-and-got-off-easy/
Smith, A. (2018) Volkswagen ex-CEO charged with fraud in diesel emissions scandal. CNN. Retrieved January 18, 2020 from https://money.cnn.com/2018/05/03/news/companies/winterkorn-vw-diesel-scandal/index.html
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