Compose an essay which gives an overview of some of the major provisions of SOX and Dodd-Frank, focusing on those areas which would be of import to you as a CPA. In the course of your discussion, explore some of the arguments from “both sides of the aisle” (the pros and cons) for some of the provisions targeted by the legislation (your choice on which provisions you would like to discuss in-depth). Where do you stand—personally and professionally—on those issues?
In the wake of the collapse of Enron and WorldCom corporations, and the widespread misstatements and omissions in corporate financial statements of a number of other SEC reporting companies, Congress passed the Sarbanes-Oxley Act (SOX) in 2002. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank) is a conglomeration of a number … Read more