However, the other 20% totally disagreed. It would behoove the investors to read and study and be informed as to how effective SOX actually in prevention and detection of fraud in the audit process. In accounting, the financial status of a business is a very vital issue that should always be handled carefully since it is the backbone of a business and this means that a business without a strong financial management is not competent in competitive market in the modern world.
Given this, financial accounting should not be done with reference to what a single worker plays his role in a business but it should be done as a combined effort of all the members in the managerial sector of a firm or a company thus it should be decided by all the members. Financial accounting again is not performed without following the principles of accounting that is generally accepted and it should always follow the guidelines of accounting (Jackson, 2003). Working as an accountant is not an easy thing because it requires someone who is professionally trained as an accountant. With this information, it is of great significance to monitor and effectively manage the present SOX.
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