Unethical Behavior Article Analysis

ACC/291

University of Phoenix

The Sarbanes Oxley Act was passed as a result of plenty of corporate scandals. The purpose of this act was to protect investors and to provide them with accurate and reliable information, and to disclose all information that can affect an investor's decision. It was passed to restore the confidence of investors.

The Sarbanes Oxley Act has impacted financial statements in several ways. The act has asked that independent firms should audit the financial statements in which positions of the auditors should be rotated from time to time, so that fraud cannot be hidden by the same auditor year after year.

Section 303 of the act requires senior management to certify the accuracy and reliability of...