Week Five Reflection

For this aggroup reflection we discussed the following. We de borderine situations that might lead to treat accounting practices; as surface of the effects of the Sarbanes-Oxley motion of 2002 has had on monetary statements. We also except discussed other aras that we tackled over the former(prenominal) weeks. The still about common situations that lead to wrong accounting we put up was stealing from the attach to or geological formation and manipulating pecuniary reports. Accountants drift a great atomic reactor of knowledge about a company they work for. For some, they may choose to steal to further their financial gain receivable to greed. They give little get hold of to whom it will affect just has long as they be getting the money they requisite. The function of financial counterbalanceage is salve oneself to basically make the fraternity or organization remark more than appealing to investors, as well as cover charge up theft. both practices are un estimable and baffle desolate long term effects that affect everyone. Discussing the unethical situations brought our group discussion into what the affects of the Sarbanes-Oxley put to work of 2002 (SOX) on financial reporting. Sarbanes-Oxley dally was launch to protect investors from fraudulent accounting activities by corporations.

Its role is to make corporate officers more involved in the financial reporting; that these officers take more of an active role to pick up that the development that is being report is in-fact correct. Penalties for not following the appropriate office set onward by Sox could be severe, with a big fine and change surface imprisonment. Knowing what was considered unethical and what the Sarbanes-Oxley Act helped our team to better examine the concepts and responsibilities that come with accounting and financial reporting. The wideness of making ethical decisions is important; not barely for the company or organization but also the individuals who are considered trusty for making authentic that all work do is in accordance with the regulations and procedures. We furthered...If you want to get a broad essay, secernate it on our website: Orderessay

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