ACC 573 Week 6 DQ 2
· The Sarbanes-Oxley ( SOX ) Act was created with the intent of improving the quality of accounting , reliability of financial statements to investors , and providing oversight to accounting professionals through the creation of a new federal agency , Public Accounting Company Oversight Board ( PACOB ). Create an argument supporting whether SOX achieved these goals , and whether financial data reported today is more accurate and reliable than prior to the Act . Provide support for your rationale .
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· Assess the impact to the Public Accounting Profession with the creation of the PACOB and the inability of the profession to be self-regulated . Indicate your level of support for the federal regulation of the profession . Provide a rationale for your response .
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ACC 573 Week 6 DQ 2
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· · Assess the impact to public trust when a publically traded company restates its financial data , indicating how negative impressions may be minimized . Provide support for your rationale .