Provide an original and substantive response to the questions posed in your Journal in a minimum of 200 words.
You learned about how the Sarbanes-Oxley Act affected the accounting profession and specifically, several major changes in the audits of public companies. These changes helped to improve the transparency and accountability of public company financial statements.
- Do you think that other types of organizations should have an act similar to the Sarbanes-Oxley Act? Why or why not?
- Should the government, nonprofits, and private companies be held to the same or similar standards? Or is it too costly and time-consuming?
- What are your thoughts regarding this type of oversight of other industries in general?