Organizations that emphasize social responsibility and adhere to a set or corpor

Question

Organizations that emphasize social responsibility and adhere to a set or corporate ethics will likely gain competitive advantages in the market place and avoid costly litigation and loss of reputation. Due to high levels of corporate fraud in the 1990s with companies such as Enron and Global Crossing, Congress passed the Sarbanes Oxley Act of 2002 that set new increased standards for the boards of public U.S. companies and accounting firms. Read the different sections and provisions of the Sarbanes Oxley Act at the following link. http://www.soxlaw.com/ Discuss your overall thoughts on the Sarbanes Oxley Act and the provision that you feel is the most effective and why. Additionally do you believe that executives will become more ethical based on the legislation? Why or why not?

Explanation / Answer

Organizations that emphasize social responsibility and adhere to a set or corporate ethics will likely gain competitive advantages in the market place and avoid costly litigation and loss of reputation. Due to high levels of corporate fraud in the 1990s with companies such as Enron and Global Crossing, Congress passed the Sarbanes Oxley Act of 2002 that set new increased standards for the boards of public U.S. companies and accounting firms. Read the different sections and provisions of the Sarbanes Oxley Act at the following link. http://www.soxlaw.com/ Discuss your overall thoughts on the Sarbanes Oxley Act and the provision that you feel is the most effective and why. Additionally do you believe that executives will become more ethical based on the legislation? Why or why not?

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