Unit:
Κατεύθυνση Οικονομική και Διοίκηση των Τηλεπικοινωνιακών ΔικτύωνLibrary of the School of Science
Author:
Μαγνήσαλη Βασιλεία
Supervisors info:
Νικόλαος Ηρειώτης (Καθηγητής), Δημήτριος Παρδάλης (Επιστημονικός Σύμβουλος)
Original Title:
Ο νόμος Sarbanes - Oxley (SOX) και η εφαρμογή του στις επιχειρήσεις
Translated title:
The Sarbanes - Oxley Act (SOX) and its application to companies
Summary:
This thesis aims to present one of the most important parts of the US
Securities Regulation, which was adopted by US stock market in order to restore
confidence and credibility of an entire financial system that was shaken in
early 2000 by high scale corporate scandals. This is the Sarbanes - Oxley Act
(SOX), which was enacted on July 30, 2002. SOX had a major impact on the
accounting and auditing sector and it was mandatory imposed to all companies
wishing to deal shares on the NY Stock Exchange.
Τhe structure of this thesis begins by presenting the major scandals that
affected the financial system, focusing on the adopted illicit practices that
led investors to lose their confidence. Then, we analyze the content of
legislation focusing on the basic principles that were introduced for companies
and their external auditors. We also present sections that created additional
implementation costs for companies subject to this law, and therefore many
debates. In conclusion, we demonstrate the most important costs and benefits of
SOX and similar legislation directives that the EU adopted regarding investors'
protection.
Keywords:
Sarbanes-Oxley act, PCAOB, Corporate Fraud, Corporate Responsibility, 8th directive
File:
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