How Does Sarbanes-Oxley Strike The Right Balance?
ModrallR BUS623
Dr. Tonya Curry
American Public University
10/20/2013
Ethical Issues While there are an abundance of issues that could be discussed and cases whose precedent we could draw from for the purpose of properly elucidating the points of the assigned topic in reference to John R. Boatright’s “Individual Responsibility in the American Corporate System: Does Sarbanes-Oxley Strike the Right Balance?” assumption that the primary responsibility of corporate responsibility legislation is deterrence I’ve chosen to expand upon Chapter 3, Case 3, Exposing Workers to Plutonium and Chapter 6, Case 4, Predatory Lending at Countrywide Financial. Several thousand uranium workers at Paducah Gasseous Diffusion Plant were exposed …show more content…
These disclosures are to be presented in terms that are easy to understand supported by trend and qualitative information of graphic presentations as appropriate.
Section 802
This section imposes penalties of fines and/or up to 20 years imprisonment for altering, destroying, mutilating, concealing, falsifying records, documents or tangible objects with the intent to obstruct, impede or influence a legal investigation. This section also imposes penalties of fines and/or imprisonment up to 10 years on any accountant who knowingly and willfully violates the requirements of maintenance of all audit or review papers for a period of 5 years. By utilizing the procedures set forth in the Sarbanes-Oxley Act it will be less likely those predatory practices will be able to have such a devastating and debilitating effect on society again. These mandatory reporting requirements for finance and government serve a preventative role and help to insure integrity.
References
Arnold, D. G., Beauchamp, T. L., & Bowie, N. E. (2013). Ethical Theory and Business (9th ed.). Upper Saddle River, NJ: Pearson Education
Dr. Tonya Curry
American Public University
10/20/2013
Ethical Issues While there are an abundance of issues that could be discussed and cases whose precedent we could draw from for the purpose of properly elucidating the points of the assigned topic in reference to John R. Boatright’s “Individual Responsibility in the American Corporate System: Does Sarbanes-Oxley Strike the Right Balance?” assumption that the primary responsibility of corporate responsibility legislation is deterrence I’ve chosen to expand upon Chapter 3, Case 3, Exposing Workers to Plutonium and Chapter 6, Case 4, Predatory Lending at Countrywide Financial. Several thousand uranium workers at Paducah Gasseous Diffusion Plant were exposed …show more content…
These disclosures are to be presented in terms that are easy to understand supported by trend and qualitative information of graphic presentations as appropriate.
Section 802
This section imposes penalties of fines and/or up to 20 years imprisonment for altering, destroying, mutilating, concealing, falsifying records, documents or tangible objects with the intent to obstruct, impede or influence a legal investigation. This section also imposes penalties of fines and/or imprisonment up to 10 years on any accountant who knowingly and willfully violates the requirements of maintenance of all audit or review papers for a period of 5 years. By utilizing the procedures set forth in the Sarbanes-Oxley Act it will be less likely those predatory practices will be able to have such a devastating and debilitating effect on society again. These mandatory reporting requirements for finance and government serve a preventative role and help to insure integrity.
References
Arnold, D. G., Beauchamp, T. L., & Bowie, N. E. (2013). Ethical Theory and Business (9th ed.). Upper Saddle River, NJ: Pearson Education