Regulatory Compliance and GovernancePurpose of AssignmentCorporate fraud has cost businesses and its shareholders millions of dollars and has been the source of legislation and regulations attempting to provide oversight and guidance to corporate boards, executives, and practitioners. Think about how these laws have changed the practices of corporate executives and, in light of the Enron scandal et al., has it been enough?Assignment StepsResources: Legal Environment of Business: Online Commerce, Business Ethics, and Global Issues: Ch. 16 (pp. 364 -368), 22, and 23.Scenario: The Sarbanes-Oxley Act (SOX) has been in effect since 2002 and has cost businesses millions of dollars in personnel and administrative costs. Your company is in the process of going public, has underwritten its Initial Public Offering (IPO), and filed its registration statement with the Securities Exchange Commission. Your current executive team has asked you to create a plan ensuring SOX compliance is followed once you become a publicly traded company.Review the pertinent sections of The Sarbanes-Oxley Act (SOX) Act. For purposes of this proposal to the board, only concern yourself with the compliance provisions of SOX (Sections 302, 401, 404, 409, and 802).Create a maximum 1,050-word
proposal to the board outling the compliance project necessary to implement SOX.Cite a minimum of one reference for the five content areas taken from a business or legal resource. One resource must be from the University Library.Format your paper consistent with APA guidelines.Click the Assignment Files tab to submit your assignment as a Microsoft® Word document.Reference: Cheeseman, H (2016). Legal Environment of Business: Online Commerce, Business Ethics, and Global Issues (8th ed.). Upper Saddle River, NJ: Pearson Education, Inc. PLEASE MAKE SURE YOU FOLLOW THE GRADING GUIDE, THIS WILL HELP TO MAKE SURE YOU COVER EVERYTHING.Answer preview
..As a solution to address the corporate problem of losses due to fraud and poor governance, Senator Sarbanes Paul and Michael Oxley came up with an act to regulate corporate governance. The act was enacted in the year 2002 and is mandatory for all firms either big, small or medium (Romano, 2004). Regulatory compliance is well addressed by several sections which include section 302, 401, 404, 409, 802 and 906. The paper will review the above sections to help draft a report to include in the project to be submitted to the board as a plan for compliance for the firm
APA 1144 words
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