Individual Work: Week Two

In: Business and Management

Submitted By blkmikwill
Words 290
Pages 2
Michael Williams 01/24/14

1) The Sarbanes-Oxley Act of 2002, commonly called “Sarbox or SOX” is a federal law that set new or enhanced standards for all U.S. public company boards, management and public accounting firms. This act was approved by the House of Representatives by a vote of 423 to 11. This act contains 11 titles or sections, the bill was the creation of two U.S. senators (Paul Sarbane and Michael Oxley) and it was enacted as a result to a number of major scandals accounting and corporate entities. These scandals which cost investors billions of dollars when the share prices of affected companies collapsed shook public confidence in the American securities markets. Now with all that in mind, this act was for everyone but more to protect small businesses because they always seem to get swallowed up when some big company gets caught with their hands in the cookie jar. So as I write this information down, there is no mention of the Mc Donald’s corporation in any of the information I have researched. So that lets me know that Mc Donald’s practices safe financial practices to ensure their stakeholders that they will never get caught up in scandals of corrupt financial dealings. Mc Donald’s has been doing business since 1933 and I’m 48 years of age and never once have I heard of the company practicing dirty or illegal dealings to scare off existing or future investors, clients, customers, or employees. So as I conclude this report I see no need to explain that Mc Donald’s does not practice illegal financial cover-ups or financial recordings. But let me say this, America was built on shady financial dealing with many promonate…...

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