tax advantages and disadvantages

tax advantages and disadvantages

For this assignment, you will be submitting an essay on the advantages and disadvantages of Sarbanes-Oxley.The purpose of this assignment is for you to consider the extent to which increased regulation is helpful in preventing fraud, and to analyze the point at which it becomes counter-productive—particularly for small businesses.

 

The essay should be written in APA format and be submitted in the form of a Microsoft Word document, labeled as follows: lastname_essay1.doc.The body of this essay must be 2–3 pages (double-spaced) in length, not counting the title page and reference page.A minimum of 7 scholarly research sources must be cited in the essay, as detailed below.

 

The structure of the essay should contain 3 parts.First, describe the tax advantages of Sarbanes-Oxley, citing at least 2 scholarly research sources.Second, discuss the tax disadvantages of Sarbanes-Oxley, citing 2 additional scholarly research sources.Finally, present your opinion regarding the success of the Sarbanes-Oxley legislation related to both fraud prevention and the protection of small business.Support your opinion with at least 3 additional scholarly research sources

 

 

 

 

 

 

 

 

 

 

 

 

Solution Preview

Sarbanes-Oxley is an act in United States that was passed in 2002. The main reason why it was started was to reinstate the confidence in those people working in different companies in the world after the scandals of Enron, WorldCom, and many others. For this reason, it influenced the responsibilities and liabilities of Corporate Executives, Audit committees, Board of directors, and analysts. This act has played a vital role for reform in the current public financial reporting of the United States. Therefore, this paper intends to provide in details the advantages and the disadvantages of Sarbanes-Oxley Act specifically on tax planning. The main reason for this is because many people have been confusing the positive and negative side of Sarbanes-Oxley Act hence.

Total word count:634words