1st part of assignment:
Each question must be answered in a minimum of 250 words with at least one scholarly journal reference (dictionary-type websites are excluded).
(1st question) Discuss the impact of Sarbanes-Oxley on a company’s internal controls. Be sure to define internal controls and discuss the basic principles for assessing internal controls.
(2nd question) The Sarbanes-Oxley Act of 2002 (SOX) was enacted in response to a number of accounting scandals in major corporations that resulted in the loss of billions of investor dollars. Choose one accounting scandal that precipitated this legislation and discuss whether or not internal controls (or lack thereof) contributed to the scandal. Be sure to include an evaluation of how SOX affected internal controls and if post-SOX internal control requirements could have prevented it.
2nd part of assignment:
Write a 500 – 750 word paper on the following topic:
Compare and contrast the views of management and accountants regarding the changes required by the Sarbanes-Oxley Act on internal controls and how these changes have affected corporations, accounting firms, and investors.
Your paper must be formatted according to APA 6th edition guidelines, and you need to use at least one external reference.
Note that your attached paper will be submitted to Turnitin. School guidelines require under 25% in similarities.