Management Seminar Essay Example | Topics and Well Written Essays - 250 words

Management Seminar - Essay precedentSOX ensure accurate financial statements by eliminating un good acts in organizations hence increasing the publics confidence in investment. Therefore, employees atomic number 18 required to report whatsoever wrongdoing for the organization to be punish by the federal government. The enforcement of the Act actually resulted to decline in financial scandals. However, 2008 financial crisis proved that any regulation is unable to reduce or control risks. Additionally, due to the cunning nature of organizations, the Act has been greatly challenged. A good number of companies have refused to go public in order, not to comply with the SOX Act.SOX are not necessary for companies because it just limits flexibility of financial management despite the stiff global competition. It too raises costs to organizations in the form of monetary expenses associated with SOX compliance. Since companies are more concerned with public image, they need no strict regu lation for them to act ethically. They often have internal controls necessary to maintain the required ethical