1. STUST GMBA 2013 MA1N0227

2. O O n these cases, the use of "accounting techniques" that masked and hidden financial problems, which came to be thousands of millions of dollars, reflecting a lack of transparency in corporate governance and accounting and financial

3. S O X

4. T his law was designed and written with the purpose of increasing the financial transparency of companies listed on the U.S. stock market, thereby protecting investors and shareholders demanding reliability, responsiveness and accuracy of financial data The way that SOX apply these goals is by establishing controls to prevent and stop the illicit financial activities, in addition to introducing fines of up to $ 5 million and up to 20 years of jail, for those managers whose companies doesn’t follow the requirements of SOX SOX

5. Its scope is not limited to those corporations in the U.S., if directly or indirectly have a presence in the U.S. stock market, this therefore implies that a multinational corporation formed by different business units in which only one publicly traded U.S. must comply with SOX in all of them. This will prevent financial fraud in a subsidiary or parent company impact on the accounts of the company listed on the American Stock Exchange and is "clean" financially for all purposes.

6. Debate continues over the perceived benefits and costs of SOX. Opponents claim it has reduced America's international competitive edge against foreign financial service providers, saying SOX has introduced an overly complex regulatory environment into U.S. financial markets. 2013 Proponents of the measure say that SOX has been a "godsend" for improving the confidence of fund managers and other investors with regard to the veracity of corporate financial statements

7. STUST GMBA 2013 MA1N0227