The Sarbanes-Oxley (SOX) Act was enacted in 2002 for companies in the private sector as a...
The Sarbanes-Oxley (SOX) Act was enacted in 2002 for companies in the private sector as a result of the Enron and other scandals. However, it does not apply to government. Should SOX-like provisions be required for the federal government? Has there been any move in this direction? Why or why not?
Homework Answers
SOX-like provisions be required for the federal government as Government entity are also responsible for making profits for its shareholders though the major shareholder is government and it cannot be provided with the benefit of doubt as people working for the government are prejudiced for making profits maybe by unhealthy means at Certain times.
There have not been any move in this direction as Government companies are thought of free from prejudices and misrepresentation in financial statements.
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The Sarbanes-Oxley (SOX) Act was enacted in 2002 for companies
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