The Sarbanes-Oxley Act: Legal Implications and Research OpportunitiesResearch in Accounting Regulation
AbstractCongress passed the Sarbanes-Oxley Act to restore investor confidence, which had been deflated by massive business and audit failures, epitomized by the demise of the Enron Corporation and Arthur Andersen LLP. The Act altered the roles and responsibilities of auditors, corporate officers, audit committee members, as well as other participants in the financial reporting process. We evaluate the potential legal implications of some of the Act’s major provisions and anticipate participants’ likely responses. Our evaluation suggests that these provisions will significantly change behavior, increase compliance costs and alter the legal landscape. We also identify promising avenues for future research in light of the new landscape.
Citation InformationStephen K Asare, Lawrence A. Cunningham and Arnold Wright. "The Sarbanes-Oxley Act: Legal Implications and Research Opportunities" Research in Accounting Regulation Vol. 19 (2007) p. 81 - 107
Available at: http://works.bepress.com/stephen_asare/1/