SOX and Standard Setting After Several Highly-Publicized Accounting Scandals in the U.S.such

question 79

Essay

SOX and standard setting After several highly-publicized accounting scandals in the U.S.such as Enron, Sunbeam and WorldCom, all of whom, coincidentally, were clients of the now basically defunct public accounting firm of Arthur Andersen, the U.S.regulators enacted the Sarbanes-Oxley Act (SOX). Pressure was put on Canada to follow a similar course.Explain what Canada has done to make public companies more accountable.

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Definitions:

Racial Equality

The principle that individuals should not be discriminated against on the basis of their race and should have equal access to opportunities and rights.

Radical Republicans

A faction within the Republican Party after the American Civil War that fought to grant civil rights to freed slaves and radically transform the South.

Federal Government

The central governing body in a federation, where authority is shared between the national administration and individual states or regions.

Protect Rights

The responsibility of governments and institutions to safeguard the legal, social, and human rights of individuals, ensuring freedom, equality, and justice.