Effects of Unethical Behavior Essay

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Effects of Unethical Behavior Effect of Unethical Behavior Article Analysis The Sarbanes-Oxley Act of 2002 has established a law which sets new ethical and legal standards for all US companies and public accounting firms. If a company doesn't count on actual professional accountants they are susceptible to illegal and erroneous transactions in their business. Effect of Unethical Behavior Article Analysis Accounting the system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results which is provided to reflect the financial position of a business. This information is used in several ways depending on who it is provided to, for example, to investors, it provides them with all the detailed information on their accounting records which could lead them to decided whether to invest in this company or not. Also, there's banks, banks can use this information to decide whether the company qualifies for a loan or not. This act has provided a type of system which provides accurate and very transparent information of a company's financial position. It provides an insight of a company's accounting records were they could being ethical or unethical. As i review the Sarbanes-Oxley Act of 2002 i can direct myself towards an unethical position i experienced in my previous job. I worked for a non-profit foundation, which i don't feel i should mention the name right now, where i was hired as the accountant for the association. I started working there in 2008 with the controller, which as i am, he was very ethical and professional person. We made it very clear how we needed to maintain the ethical aspects and assigned responsibilities to each were we both were able to double check each other's work. In addition, we also created our internal procedures where if I would reconcile the bank accounts, I
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