The Impact Of Sarbane-oxley On Community Bank Governance.

(Your Name (Your Professor (Your ClassThe Impact of the Sarbanes-Oxley spell on federation Bank GovernanceIntroductionThis aims to discuss the Sarbanes-Oxley Act and the fix that it has had , and will cut across to have on the financial industry , in limited the field of corporation brink governance . In for the to success generousy do this , a definition of the Sarbanes-Oxley Act and of governance , twain good and bad , is necessary . It is also necessary to visualize at what position community bank governance implant itself in before the passing of the Sarbanes-Oxley Act and the position it is in after the passing of the Sarbanes-Oxley Act to assess the changes and impacts that it has hadFor the purposes of supplying special and supporting information this also gives a general tidings of the Sarbanes-Oxley Act the background and history of it , and the impact the passing of it has had on corporate governance in general , because I weigh that it is fundamental to understand this aspect of it in to understand the dear importance , relevance and implications of the impact of the Sarbanes-Oxley Act on community bank governance . The Act has had a profound impact both on community bank governance as a whole and on suppliers to the bank as rise up as individual staff members employed by the bank , and indirectly the customers of the bankWhat is the Sarbanes-Oxley ActIn to correctly define the Act , let s evince what John T Bostelman author of The Sarbanes-Oxley Deskbook (2003 , 2004 , has to say .

He explains it clearly and concisely in the following mannerThe Sarbanes-Oxley Act gives new well-grounded rights to employees of creation companies who claim that they were retaliated against for providing information , assisting an investigation , or fighting(a) in a proceeding concerning alleged violations of US national securities or anti-fraud lawsIn other words , the Sarbanes-Oxley Act provides protection to employees of public companies and minimizes the risk that they are going to be discriminated against after severe to hold up United States Federal securities or anti-fraud lawsThe Act was passed on June 30 2002 (Miller and Jentz , 2004 ) after a number of risque pro malicious gossips such as the much publicized Enron s displacedal (to explain this briefly , there were rumors of mismanagement and fraud in the company , and subsequently the Houston based energy company collapsed , livery shame for the accounting firm with which it was associated , Arthur Anderson and unleashing scandal for large companies in just about every sector of the New sparing - Axelrod and Phillips , 2004Named after its architects , Representative Michael Oxley and Senator Sarbanes the Sarbanes-Oxley Act has had a large and important impact on many related aspects of finance including auditing and the gyration of risk management . It has in fact been one of the repair factors responsible for the revolutionizing of corporate governance which has taken place in the last few years . This being the case we can see how important it is that we...If you want to get a full essay, order it on our website: Orderessay

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