The Sarbanes Oxley Act Unexpected Benefits Essay

The Sarbanes-Oxley Act: Unexpected Benefits For just a brief moment, imagine yourself sometime in the future. You have been recently married, you just started a brand new job, and are looking to start a family. As a way to plan for financial security, you have done some research into financial investments. You are hoping to build a portfolio, which will be a mix of low, median, and high-risk stock. Flash forward into the future by 20 years. During this time, the stock prices have appreciated and depreciated, yet overall done remarkably well. All of a sudden, one morning you wake up to some disastrous news. One of the company’s you invested in, which held a majority of the portfolio of stock, has been participating in financial fraud. While they had been presenting themselves well, under the surface deceptive accounting and financial practices were being used and now the company is broke. All of your hard earned money which was invested in that company is now gone-down to the last penny. Does this sound vaguely familiar? It should. In 2001, Enron, a United States company, became the very largest bankruptcy and stock collapse in history (Columbia Electronic Encyclopedia). As a result, in 2002, The Sarbanes-Oxley Act was passed as means to prevent fraud, improve financial reporting, and gain back the trust that was previously lost by investors. Although numerous publicly traded companies, which are companies registered on the U.S. stock exchange, were less than happy to welcomeShow MoreRelatedThe Sarbanes Oxley Act ( Sox ) For A Company1461 Words   |  6 Pagesassignment I am going to try to describe the cost and benefits of implementing the Sarbanes Oxley Act (SOX) for a company. I will then move on to describe what it is, how to go about it, and what a company may need to properly implement it. The Sarbanes Oxley Act was approved and activated in 2002 to protect investors and to renew confidence in American companies from what happened with the fall of companies like Enron, HealthSouth, and WorldCom. This act was trusted to fix or find corruption in the companiesRead MoreThe Sarbanes Oxley Act ( Sox ) For A Company1280 Words   |  6 Pagesassignment I am going to try to describe the cost and benefits of implementing the Sarbanes Oxley Act (SOX) for a company. I will then move on to describe what it is, how to go about it, and what a company may need to properly implement it. The Sarbanes Oxley Act was approved and activated in 2002 to protect investors and to renew confidence in American companies from what happened with the fall of companies like Enron, HealthSouth, and WorldCom. This act was trusted to fix or find corruption in the companiesRead MoreLge 500 Week 10 Discussion 12 Essay2300 Words   |  10 PagesUnderlying Causes Please respond to the following: Analyze at least three underlying causes for the creation of the Sarbanes-Oxley Act. Next, rank the causes that you have analyzed from the most important to the least important to the creation of the Act. Explain your rationale. In the later part of 1990s, there was an epidemic of accounting scandals which arose with the disclosure of financials transgressions by trusted corporate executives. The misdeeds involved misusing or misdirectingRead MoreEssay on Independence Issue in Hih Case2665 Words   |  11 Pagesindependence are usually restrained and difficult to measure. Overall scenario behind the corporate collapse in Australia In recent years, the failure of Arthur Andersen as one of the biggest auditing firm and its involvement in the issue of the unexpected collapses in Australia(HIH) and USA(Enron and WorldCom). The reasons behind the corporate collapses were regulatory failure, gross fund mismanagement, their excessive discounting, management’s self interest, price cutting strategy, lack of transparencyRead MoreIntegrating Risk Management And Management Control1871 Words   |  8 Pagesof RM. This idea has been developed since the Committee of Sponsoring Organizations of the Treadway Commission (COSO) published integrated framework for internal control in 1992. Ten yeas later, Section 404 compliance, which is part of Sarbanses-Oxley Act, was enacted in 2002 for the purpose of reviewing and reporting on effectiveness of internal control. In 2004, COSO also released Enterprise Risk Management (ERM), which is a framework to realize establishment of internal control and compliance withRead MoreE thical Decision Making: The Sarbanes-Oxley Act Essay2855 Words   |  12 Pagesthinking and decision making conclusions right for one individual or firm and wrong for another? Do ethics encompass a universal concept or do they reside solely in an individual realm such as one’s Id or ego as Freud claimed? Finally, do acts such as The Sarbanes-Oxley Act (SOX) create a sound solution to the problem of ethical or non-ethical decision making in public firms? According to many scholars, the subject of corporate ethical decision making has many different avenues, such as what Zhong statesRead MoreThe Purpose of Internal Controls in the Accounting Process Essay948 Words   |  4 Pagesbasically audits within the same store, department, shipping dock, etc. Another person should verify that the information, money, or items that are reflected on the sales log, inventory sheet, or shipping manifest is accurate. It should be done at an unexpected time. There are some other forms of internal control that most companies use today that are somewhat effective. Bonding is a way to weed out employees who have wrong motives. Insurance companies insure employees who deal with cash for the purposeRead MoreHistory and Development of Accounting Standards Essay2637 Words   |  11 Pageseconomy to recover, the publics faith in the capital markets needed to be restored. Congress held hearings to identify the problems and search for solutions. Based on the findings in these hearings, Congress passed the Securities Act of 1933 and the Securities Exchange Act of 1934. Congress established the Securities and Exchange Commission in 1934 to enforce the newly-passed securities laws, to promote stability in the markets and, most importantly, to protect investors. The SEC was given the mandateRead MoreEarnings Management3502 Words   |  15 Pagesgood earnings management, also known as operational earnings management, in their day-to-day activities. S ome examples of good earnings management are setting reasonable budget targets, monitoring results and market conditions, reacting to all the unexpected threats and opportunities that arise and reliably delivering on commitments. A company has to participate in some sort of earnings management, and more than likely, its the good kind. A company participates in good earnings management because itRead More Business Ethics and the 1989 Exxon Valdez Oil Spill Essay3442 Words   |  14 Pageslargest spills to ever happen in North America. According to Seitel, Exxon’s top management did not handle the disaster very well. In fact, the author states that the handling of the Exxon Valdez disaster was a lesson in what not to do when an unexpected crisis hits a company. Top management at Exxon did not communicate well with the citizen’s of Valdez, Alaska or the general public. As we jump forward twenty-two years, we see yet again another huge oil spill by another major corporation. British

A Reflection On Transcultural Nursing - 1557 Words

One of the greatest challenges to health care today is the increasing diversity of our patient population. The demographics of any healthcare setting is simply a reflection of our changing society at large. Today’s population looks very different than it did fifty years ago. Not only has there been a profound transformation in this area there has also been a shift in the responsibilities that a health-care worker has to his/her patients. They must address the needs of the whole patient and provide care that is not only medically competent but culturally competent as well. The social context is a significant factor in how healthcare is delivered. Transcultural nursing practices have evolved in the latter part of the 20th century and still remain a key part of effective nursing practices. However, understanding is only the beginning. It is only when the key concepts of transcultural nursing are embedded in the practice of an effective and enlightened health care worker can we sa y with confidence that we are treating the whole patient. The founder of the transcultural theory is Madeleine Leininger. Her work covered much of the 20th century and beyond and was the first to define Transcultural nursing. It was because of her work and perseverance that this area of nursing became a formalized way of improving health care practices. When she started her nursing career over 60 years ago, the attitudes that permeated throughout our society were much less than open that the ideas ofShow MoreRelatedMy Identity As A New Zealand Nurse Essay1551 Words   |  7 Pagesphilosophy of nursing would be defined as that caring individuals within holistic and transcultural contexts; individualized caring requires cultural competence. Caring individuals within specific culture contexts mandates that nurses have to be culturally competent, which means that nurses have to gain the knowledge of other cultures and skills to identify particular cultural patterns (Gustafson, 2005). Moreover, the holistic principle in nursing practice indicates that professional nursing must identifyRead MoreThe Application Of Transcultural Nursing Theory1253 Words   |  6 PagesThe application of transcultural nursing theory guides nurses to care for patients with different cultures. However, nursing scholars are beginning to explore that cultural education in nursing is not discussing the power relations found between the nurse-patient relationship and health care institutions. It has been suggested that nursing curricula needs to change from teaching cultural phenomena and incorporating critical theory to address social injustices that harm the client’s health. The purposeRead MoreReview For Enhancing Cultural Competency1559 Words   |  7 PagesFOR ENHANCING CULTURAL COMPETENCY IN NEW NURSING GRADUATES Cultural competency is an indispensable in nursing practice so that nurses can deliver optimal care for patients from diverse cultural backgrounds. Therefore, insufficient knowledge and skills of cultural competency have continued to increase racial and ethnic inequalities in health care service for minority groups (Dunagan et al. 2013; Long, 2012). As nurses interact with clients they provide nursing care, education and advocacy at any pointRead MoreThe Importance Of Transcultural Nursing1664 Words   |  7 Pagesworking at a children’s hospital in 1955 when she began to realize that with such a wide diversity of individuals of all races and ethnicities, one form of medical treatment may not be right on a culture-to-culture basis. She coined the term: â€Å"Transcultural Nursing† (Sagar, 2016). The point was that all cultures will react differently to a medical situation. Some cultures have individuals with clinical diagnoses of mental illnesses, but the medications p rescribed are not to be taken (rather, one may takeRead MoreLeiningers Culture Care Theory699 Words   |  3 PagesCulture Care Theory jennifer davis PURDUE Leiningers Culture Care Theory Madeleine Leininger’s Theory of Culture Care Madeleine Leininger viewed by many as the founder of transcultural nursing. Leininger’s theory addressed the similarities and differences across human culture. She believed that transcultural nursing care could provide meaningful, therapeutic health and healing outcomes (Parker amp; Smith, 2010, 318). In her theory she hoped for the nurse to provide care within cultural measuresRead MoreAnalysis Of Giger And Davidhizar Transcultural Model733 Words   |  3 PagesAnalysis of Giger and Davidhizar Transcultural Model The Giger and Davidhizar Transcultural Model suggests that every individual is culturally unique and should be assessed and treated according to the six cultural phenomena: Communication, Space, Social Organization, Time, Environmental Control, and Biological Variations. (Giger and Davidhizar, 2002) We will now take a closer look at each of these phenomena and see how they provide a framework for culturally sensitive care. Communication CommunicationRead MoreEssay about Nursing Foundations in the Healthcare Community840 Words   |  4 PagesReflecting on Nursing Foundations of Community Health Week 2 Reflection: Nursing Foundations of Community Health Alicia C. Byrd, RN Walden University NURS 6150 Section 11, Promoting and Preserving Health in a Diverse Society March 13, 2011 Reflecting on Nursing Foundations of Community Health Community health nursing can work in the government, private agencies, clinics or other private settings. Nurses in this field focus on populations, working with individuals, groups and familiesRead MoreMadeleine Leininger s Impact On Nursing2485 Words   |  10 Pagesher in entering the field of nursing when she became ill with congenital heart disease. In 1945, during the post depression, Madeleine and her sister entered the Cadet Nurse Corps and a diploma program at Antony’s School of Nursing in Denver Colorado. In 1950, she went on to receive her Bachelor degree in biological science, with a minor in Philosophy and Humanistist Studies from Benedictine College. In 1954 she earned an M.S. in psychiatric and mental health nursing. From Catholic University ofRead MoreMadeleine Hubble Nursing Theory Of Cultural Care Diversity And Universality2145 Words   |  9 Pagesbeing around people in their time of needs as well as internal satisfaction by serving those that need my he lp. In my day to day nursing career, I have encountered several patients from different cultures and traditions. During my short time caring for people with diverse cultural background. I have learned that this population involves a lot of complex care; My nursing interventions focus not only on the patients physical needs, but also their emotional and spiritual needs. I have always interactedRead MoreMadeliene Leininger2371 Words   |  10 PagesNursing Theorist M. Leininger: Culture Care Theory Nursing Theorist Madeliene Leininger: Culture Care Theory Madeliene Leininger was born in Sutton, Nebraska in 1925. In her early life she lived with her brothers and sisters on her father’s farm. She received her high school education from Scholastica College. She furthered her education at the Catholic University of America in Washington, D.C. and then went to the University of Washington, Seattle. Upon completion of her education she

Bullying and the Holocaust Free Essays

Bullying and the Holocaust: Competition versus Cooperation When an animal is faced with starvation it often turns to cannibalism and may attack and kill a weaker animal of the same species. The German Nazis followed this system of competition versus cooperation. The Nazis felt they had no other choice to survive than to kill millions of Jews, Gypsies, and disabled people. We will write a custom essay sample on Bullying and the Holocaust or any similar topic only for you Order Now After the Holocaust, researchers uncovered many Journals kept by those who were persecuted. Here is a short exert from a fourteen year old girl: â€Å"October 27, 1937: The other girls and I were moved for the sixth time today. This time they moved us to a factory closer to Auschwitz. I’m beginning to fear that I’m at the end and I might die soon. At some points I wish they would go ahead and kill me so I wouldn’t have to endure this pain. Through all of this I still don’t understand why the Nazis hate us. We never did anything to them. I often wish someone would speak up on our behalf and save us from this terrible life. Looking back on the Holocaust people wonder xactly why no one spoke up and fought for the persecuted for so long during the war. It was like they were all students in school who pretended not to notice when someone was getting bullied so they didn’t have to get involved in it. Half of the mass slaughter of the Holocaust was due to bullying by peer pressure. People felt pressured by others to turn in Jews to Nazi official s. They wanted to save themselves and let the Jews be persecuted. As this happened more often no one even thought twice about it and had little regret that they probably Just sent omeone to their death. 2 As a part of the â€Å"Final Solution†, the Nazis did everything possible to exterminate the Jews. Through all of the hateful words, excruciating torture methods, and unreasonable forced labor, the Nazis believed that they threatened their way of life and the world would be better without them. World War II and the Holocaust officially ended on May 8, 1945, but only about two-thirds of the Jewish population remained. How to cite Bullying and the Holocaust, Papers

Winston Churchill Literary Devices free essay sample

Winston Churchill is known to be an excellent speaker. His speeches to the people in times of need were always inspiring, while simply delivered in a way that made them perfectly understandable to every person. In his speech The Defense of Freedom and Peace at the beginning of World War II, Churchill is very persuasive and uses simple yet illustrative literary devices and diction to inspire, convince, and persuade the British people to prepare for war and the American people to join Englands worthy cause. Each literary device that Churchill uses enhances his message, adding to the beauty, and importance of the cause. During Churchills speech The Defense of Freedom and Peace, he decorates his message with literary devices such as allusion, rhetorical question, and imagery. Perhaps one of the most emotional of literary devices, Winston Churchill makes good use of the allusion. Not only does it show his intelligence, but also it gives his audience an idea of his true meaning. We will write a custom essay sample on Winston Churchill Literary Devices or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The first time he states, the American people can wash their hands of the whole business. This allusion is to the story of Pontius Pilate and Jesus, how the Prefect Pilate washed his hands in a basin of water as a physical sign that he was going to have nothing to do with Jesus fate. This instance brings to mind stories of brutal death and betrayal, which add to the emotion felt by the audience. Another device that Churchill makes excellent use of in this speech is the rhetorical question. When he uses this device, the questions cause his audience to think about the answer, which leads the people to consider more thoroughly what the consequences are. Has any benefit or progress ever been achieved by the human race by submission to organized and calculated violence? asks Churchill. Of course, he is not searching for an answer but for comprehension from his audience. In this question, he is asking the people to remember a time in history that any benefit came from succumbing to violence. If his audience could think of an instance where there was benefit, then Churchills argument would not be as strong. However, no one remembers progress and good that ever was the product of submission to brute force. In the last paragraph of his speech, Churchill asks of the people, Is this a call to war? Does anyone pretend that preparation for resistance to aggression is unleashing war? (Churchill). Here he asks if his audience believes he is calling them to war. Is calling America and Britain to arm in defense against Hitler asking them to fight? No, Winston Churchill is not asking these countries to go to war, but instead he asks them to defend themselves and their allies against the threat of the Nazis. Hence, his question about unleashing war is asking his audience to remember that they are not attacking Hitler, only preparing to fend him off. In The Defence of Freedom and Peace there are many more rhetorical questions, each, like the two above, inciting thought, understanding, and agreement from listeners. Churchill also makes admirable use of imagery in this speech. Actually, one might make the conjecture that Winston Churchills use of this rhetorical device is to frighten his audience. For an example, the speaker makes the statement, It [Czechoslovakia] is now being digested (Churchill). What a frightening image! The Nazi force has devoured and is digesting that country, absorbing the land and the people into the German rule. It creates an image of a formidable beast that has eaten the small country, which will soon be completely gone. Indeed, this statement displays how the Nazi forces are really starving for power, devouring whatever they can. Later in his speech, Churchill says It is not a new theme; it leaps out upon us from the Dark Ages (Churchill). Referring to the racial persecution, religious intolerance, deprivation of free speech, the conception of the citizen as a mere soulless fraction of the State, the mention of the Dark Ages reminds the audience of that time when life and government were poor, overrun with tyranny and confusion. Such a memory causes the people to become frightened that times may take a turn for the worst again, returning to those years of pain and no new ideas. Among all of the famous orators in history, one man who deserves to be remembered well is Sir Winston Churchill. His excellent use of rhetorical devices in his speeches, especially in The Defense of Freedom and Peace, is inspiring and thought-stimulating to his audience. Whether using the rhetorical question or the allusion or some other device, Churchill employs it in ways that are persuasive and relatable. His speech is plain in that no unnecessarily large or obscure words are used, but his uses of literary devices add beauty and elegance to the message Churchill is attempting to relay. Yet his use of rhetoric is strong, calling forth great emotions and resolves to see Hitler destroyed like Actaeon and to resist digestion by the Nazi beast that seized and devoured Czechoslovakia. It is, in fact, Churchills brilliant employment of rhetorical devices that make his speeches inspiring and worth remembering years after the memorable mans death.