Essay: Challenges for change in Sarbanes Oxley Act

Sample Essay

It is not recommended that the Sarbanes Oxley Act should be completely eliminated and taken back although there is much argument against it. This is because after the establishment of the Act which was primarily established for the public corporations, the companies in the private sector have also established rules of conducting businesses and work policies inspired by and based on the Sarbanes Oxley Act. Moreover the European countries are also seeking to develop a similar government policy of their own similar to the Sarbanes Oxley Act which can be used to safeguard their investments b their local securities of exchanges. This depicts that the Sarbanes Oxley Act has had a positive influence on the business world in some regards by bringing more policies and regulations in the light which can be used to better monitor the industry for fraudulent practices. However the Sarbanes Oxley Act is itself is inept and needs to be fixed by updating and remodeling the policies and the regulations to better suit the economy structure and the state of the companies operating in the industry.

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