Asked by Vellanira Macado on May 16, 2024
Verified
Why do you think the costs of compliance with Sarbanes Oxley go down over time?
Sarbanes Oxley
A U.S. federal law that was enacted in 2002 to protect investors from fraudulent financial reporting by corporations, also known as the Sarbanes-Oxley Act of 2002.
Compliance Costs
Expenditures incurred by an organization to ensure it is abiding by relevant laws, regulations, and standards.
- Acquire knowledge of critical legislations that impact business processes and compliance obligations.
- Comprehend the role of ethical compliance programs in mitigating and spotting corporate misbehavior.
Verified Answer
EH
Emily HurleyMay 17, 2024
Final Answer :
Companies have reported their compliance costs decreasing by 50% since implementation. One reason could be experience with the systems and regulations makes compliance go more swiftly, decreasing costs. Another could be initial costs of establishing internal systems for compliance decrease after implementation.
Learning Objectives
- Acquire knowledge of critical legislations that impact business processes and compliance obligations.
- Comprehend the role of ethical compliance programs in mitigating and spotting corporate misbehavior.
Related questions
Companies That _____ Will Most Likely Be Found in Violation ...
Which Memo Provided Advanced General Principles to Consider in Cases ...
Which of the Following Laws Instituted a Whistle-Blower Bounty Program ...
By Prohibiting Accounting Firms from Providing Both Auditing and Consulting ...
The Sarbanes-Oxley Act Created the _____ to Oversee the Accounting ...