| Paper title: |
Sarbanes - Oxley Act- Threat or Opportunity for Auditors? |
| Published in: | Issue 1, (Vol. 4) / 2010 |
| Publishing date: | 2010-03-30 |
| Pages: | 87-90 |
| Author(s): | Ionel Bostan, Veronica Grosu, Cristian Peres |
| Abstract. | Recent events of financial publication revealed a need for introduction of an effective reform process of the traditional control methods and processes of decision-making entities. The crisis of corporate governance systems, the need to introduce new codes and self-binding and legislative rules, have pushed the legislature to the U.S. issued Sarbanes –Oxley Act model. Accountants and financial specialists describe the benefits of implementation of the SOX model, saying that the quality of the area contributed only marginally in the creation of such benefits. If there would be no coercion of attitude towards implementing the ISO 14001 or ISO, including requirements for integration of best practice financial, SOX would have had reason to exist. |
| Keywords: | Sarbanes Oxley, Quality, Standard ISO 9001:2001 Compliance, Financial Scandals, Audit |
| References: | 1. Jorge E. Guerra- “The Sarbanes-Oxley Act and Evolution of Corporate Governance”, The CPA Journal, 2004 2. John S. Vishneski, III, Mayer, Brown, Rowe & Maw LLP (December 1, 2003) New Liabilities Created By Sarbanes-Oxley; Are Your Directors, Officers Covered? (Copyright 2003. The National Underwriter Company. National Underwriter, Property & Casualty/Risk & Benefits Management Edition.) 3. Michael L. Hermsen. SEC Adopts Long-Awaited Securities Act Reform, Part I, (Reprinted w/ permission from September 2005 edition of the Wall Street Lawyer.) 4. Steven L. Schwarcz, Securitization Post-Enron (Draft) Duke University School of Law (23 May 2003) 5. James J. Junewicz, Mayer, Brown, Rowe & Maw A Practical Approach to Disclosure Controls and Procedures Under Sarbanes-Oxley (Delivered to the Chicago Chapter of the American Society of Corporate Secretaries on October 30, 2002) (Oct. 30, 2002) 6. Laura D. Richman. Compliance and Ethics Programs Under the Federal Sentencing Guidelines After the Supreme Court Booker Decision, Reprinted w/ permission from March 2005 edition of the Wall Street Lawyer.) |
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