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After the events occurred in the US market (Collapse and bankruptcy of Enron and WorldCom, among others), the effect of which are still being felt in US economy. It seemed evident that the information regarding financial statements are ever more important for investors and regulatory agencies.

In response to this mayor corporate and accounting scandals, and as an attempt to restore confidence in the market, in July of 2002, US congress and President Bush signed into law the Sarbanes-Oxley Act. This Act, requires executives, boards of directors and auditors to take precise measures to bring about greater corporate accountability and transparency.

The following tables will illustrate the costs and benefits of the Sarbanes-Oxley Act on: Investors, Companies (especially CEOs and senior managers), Accounting (CPA) firms, and Government.

Please refer to tables 1 and 2 in the following pages. References are posted at the end of the document

TABLE 1 - COSTS AND BENEFITS FOR...

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Title: SOX Pros And Cons
Approximate word count: 855
Approximate pages: 4 (250 words per double-spaced page)

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1. Sox Pros And Cons
   

   SOX pros and cons. After the events occurred in the US market (Collapse
   and bankruptcy of Enron and WorldCom, among others), the ...

2. Sarbanes-Oxley Recommendations
   

   ... essay provides a brief history of SOX's creation, explains the relationship amongst
   the FASB, SEC and PCAOB, describes the pros and cons of SOX, assesses the ...

3. Sarbanes Oxley Memo
   

   ... provides a brief history of SOX¡¦s creation, explains the relationship amongst the
   FASB, SEC and PCAOB, describes the pros and cons of SOX, assesses the ...

4. Pcaob
   

   ... However, at the beginning the board's operating expense was covered by the Department
   of Treasury, as required by SOX (19). ... Pros and Cons There are many ...

5. Sarbanes Oxley
   

   ... It will go through some of the high points of the act, some of the pros and cons
   of the legislation, and ... Often, it is referred to as SOX, SarbOx, or SOA. ...