“The days of 'value-less’ ethics education are over."
The Sarbanes-Oxley Act of 2002 fundamentally changed the landscape of auditing and reporting for publicly traded companies. The law has had far reaching consequences for the financial reporting systems for corporations. For example, there are new regulations for retaining audit papers. A new oversight board for accounting firms auditing publicly traded companies has been created. Those who blow the whistle on unethical or illegal practices are given an added measure of protection. Those who interfere with investigations will receive additional penalties. And, in the interest of promoting transparency, there are new regulations regarding auditor independence, the reporting of conflicts of interest in financial analysis, and how publicly traded companies report their financial situations.
Read the entire article on the Acton Institute website (new window will open).