1. Sarbanes-Oxley Act
... that are more stringent on the illegal destruction of financial documents. "It is now a felony with penalties of up to 10 years to willfully fail to maintain all audits or review work papers."(AICPA,Sarbanes-Oxley). And anyone found tampering with files that deal with a federal or bankruptcy investigation can receive up to 10 years.(AICPA,Sarbanes-Oxley) Securities fraud has ... in the "scope" of the public. President George W. Bush has commented on the new laws, "Today I sign the most far-reaching reforms of American business practice since the time of Franklin Delano Roosevelt," (list...
- Word Count: 1972
- Approx Pages: 8
- Grade Level: Undergraduate