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What improvements need to be made in the industry

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Question - Following the infamous accounting scandals of the early 2000s, the Sarbanes-Oxley Act (SOX) was implemented to improve the quality of accounting, enhance the reliability of financial reporting, and mandate oversight of the public accounting profession through the Public Accounting Company Oversight Board (PACOB). Assess the effectiveness of the Sarbanes-Oxley Act. Are financial reports today more reliable compared with the reports issued pre-SOX? How have financial scandals occurred subsequent to SOX? Why did SOX not prevent them? What improvements need to be made in the industry to further enhance the integrity of external financial reporting?

Reference no: EM132940530

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