Essay: The Effectiveness of SOX

The research here will also be beneficial to numerous organizations and individuals. CPAs will benefit from the study as it will help them in assessing the effectiveness of SOX, and in determining if other steps will be necessary so that they can prevent and detect fraud in the audit process. Companies will also be beneficiaries of the research outcomes as they can make better financial management decisions on how to implement SOX. SOX in the past, has caused extra costs by corporations in order to comply with the internal control standards imposed by legislative actions. According to Fleetwood (2006), all officers of organizations, whether public or private, may be affected by the new standards of SOX.

The investor will also benefit from this research in determining whether or not SOX is protecting their interests. Dowling (2003) did a poll of investors which shows that investors’ confidence is closely aligned with companies’ compliance with SOX. Three out of five investors believed that SOX assists in protecting their stock investments.

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