Analysing some issues with SOX
by Aida Sy
International Journal of Auditing Technology (IJAUDIT), Vol. 1, No. 1, 2013

Abstract: The Sarbanes-Oxley Act legislation (the SOX) was triggered by a series of market failures that were exemplified by the bankruptcy of Enron, whose accounting errors inflated earning by almost $600 million since 1994. With assets of $62 billion, Enron was the largest bankruptcy case in US history. The Enron collapse was dwarfed several months later by the massive fraud and bankruptcy filing of WorldCom in July 2002, with $100 billion in assets. The changes in internal control required by SOX's executive arm - the Public Company Accounting Oversight Board (PCAOB) - imposed costs, that have given rise to appeals to rollback or repeal the requirements (for small firms, overseas firms, etc). One emerging technology - analytic monitoring - offers a possible answer to this impasse. It tenders a family of solutions that are potentially cheaper and more effective than traditional systems of control.

Online publication date: Thu, 30-Jan-2014

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Auditing Technology (IJAUDIT):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com