What will be the Effects of the Sarbanes-Oxley Act?

In recent years, scandals have filled the news with horrifying dishonesty from many corporate officials in high power positions. In the end of 2002, a new law was passed through legislation of the United States that monitors the activities of law and accounting firms. This action was taken due to illegal “paper shredding” of financial documents. With these documents becoming non-existent, firms could misrepresent the earnings and financial statistics of the company and make it appear to be performing better than it really is. Through several large scandals, these large companies have shattered the images of corporate America in the public eye.

Business today is different from what it was in the past. At one time the decisions of a company were known to be performed in good faith. However, in this business age cutting corners is often a path to quick success. This more often is seen from large scandals from executives from the firm itself or its accounting firms responsible for their financial statistics. When the financial documents are destroyed, the firm can then

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