文档介绍：UNIT English: A Reading CourseBACKGROUND INFORMATION?The Sarbanes-Oxley Act of 2002 (often shortened to SOX) is legislation passed by the . Congress to protect shareholders and the general public from accounting errors and fraudulent practices in the enterprise, as well as improve the accuracy of corporate disclosures. ?It was enacted as a reaction to a number of major corporate and accounting scandals, including Enron and .?Also named as Sarbanes-Oxley, Sarbox, SOXMajor pany Accounting Oversight Board (PCAOB)●建立一个独立的公众公司会计监管委员会,对上市公司审计进行监管;03●限定公司高管人员的行为,改善公司治理结构等,以增进公司的报告责任;02Auditor Independence●通过负责合伙人轮换制度以及咨询与审计服务不兼容等提高审计的独立性;04Enhanced Financial Disclosures●加强财务报告的披露Corporate ResponsibilityThe Evaluation of The ActPraiseIt has been praised for nurturing an ethical culture as it forces top management to be transparent and employees to be responsible for their acts whilst protecting places . corporations at petitive disadvantage with foreign firms, driving businesses out of the United StatesLegal ChallengesIt have experienced legal challengesThe NASDAQ Stock monly known as the NASDAQ (currently stylized as Nasdaq), is an American stock exchange. ?It is the second-largest exchange in the world by market capitalization, behind only the New York Stock Exchange.?The exchange platform is owned by The NASDAQ OMX Group, which also owns the OMX stock work and several other US stock and options -UP are the necessary measures to take what are the necessary measures to take in order to restrain CEOs and CFOs in order to restrain CEOs and CFOs from fraudulent business practices?from fraudulent business practices? 2. 2. How can the excutives and lawyers How can the excutives and lawyers escape from punishment by the act?escape from punishment by the act? 3. 3. What is the opositive aspect of signing off pany's accounts? 4. 4. How does the Sarbanes act in effect?B