The Sarbanes-Oxley Act and Corporate Governance
A corporate scandal involves alleged or actual unethical behavior by people acting within or on behalf of a corporation. Since the turn of the century, the U.S. has seen some large corporate collapses and scandals due to shoddy and deceptive accounting practices. Many companies, shareholders and employees suffered as stock prices fell and reputations were tarnished when businesses such as Nokia, Lucent Technologies, energy, and internet-related businesses conducted questionable practices.

This course examines developments in finance and accounting and a series of corporate accounting scandals on the heels of the Enron debacle that have led to current sweeping accounting guidelines, proposals, and legislation—most notably, the Sarbanes-Oxley (SOX) Act. Many of the issues surrounding the SOX Act—especially Section 404, Internal Control over Financial Reporting and Sections 302 and 906, Management Certifications —are discussed. The general issues on corporate governance and corporate social responsibility (CSR), including stock option expensing, are also covered. The illegal practice of stock option backdating is described as well.

Course Publication Date: September 04, 2018

This course is available with NO ADDITIONAL FEE if you have an active self study membership or can be purchased for $60.00!

Author:Delta CPE
Course No:ACT-SARBOX-40158
Recommended CPE:6.00
Delivery Method:QAS Self Study
Level of Knowledge:Update
Prerequisites:None
Advanced Preparation:None
Recommended Field of Study:Accounting
  
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Learning Objectives
  • Recognize the sources of accounting irregularities, including the Enron scandal and Special Purpose Entities (SPEs).
  • Identify the controversy with expensing stock options and specific issues addressed by ASC 718.
  • Recognize different rules and regulations put out by the FASB, NYSE, and the SEC.
  • Recognize the major features of the Sarbanes-Oxley (SOX) Act of 2002 Corporate Responsibility Law.
  • Identify key elements of corporate governance.
  • Identify attributes of good governance, social responsibility and other ethical standards.
  • Identify key sections of the Sarbanes-Oxley Act of 2002.

CPE Depot Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

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