First page of the edition of the Napoleonic Code. Civil law is the legal system used in most countries around the world today.
The SOX Act directly influences the duties of auditors, board of directors, and company administrators with respect to fiscal reports.
The oversight board is directly accountable for the oversight of fiscal reports audits of openly traded organizations and the establishment of auditing requirements in the United States of America. The objective of this act was to aid in increasing the investor confidence in fiscal records, which companies issued.
Confidence was lost because of incorrect reports, leading to huge amounts of money lost by shareholders.
The SOX Act needed a total change of the existing requirements of fiscal accounting and auditing requirements. While these requirements and rules are now being included in the system, there will definitely be required modifications, and additions to those terms.
But, if these types of implementations will increase the sincerity and successfulness of fiscal reports has not yet been seen. One thing for certain is the board of directors, outer auditors, and company administrators have a higher obligation to make sure correct and timely fiscal records are supplied for shareholders.
Legal Issues The Sox act was developed into law following the failure of large companies for example Enron and Adelphia. Managers Perspective The issues involving companies reporting incorrect and falsified fiscal reports, was most likely a long time problem.
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Article Review Format Guide LAW/ Version 2 2 Monopoly because SOX act would have sole control over punishments. Unconstitutional because private businesses were not targeted therefore, public businesses felt that all businesses did not have the same right. Reproduced with permission of European Journal of Law Reform (Kluwer) Vol.
4, No. 4 () Determining the Contractual Intent of Parties under the CISG and Common Law -- A Comparative Analysis.
Bruno Zeller[*]. Uses and Abuses of Gresham's Law in the History of Money. Robert Mundell. Columbia university. August Introduction. 1. Early Expressions. 2. Faulty Renderings. Law Week 3 Article Review Resource: University of Phoenix Material Article Review Format Guide located on the student website Locate an article specific.