Why good accounts do bad audits

Why good accounts do bad audits

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Executive Summary

            On the 30^th of July 2002, the then American President George W. Bush signed into law an act aimed at combating auditing fraud in the financial sector. The act was known as the Sarbanes-Oxley Act of 2002 and was signed at a ceremony in the East Room of the White House that was presided over by President Bush and was attended by the congressional leaders of both Democratic and Republican parties. The main reason why this act was implemented was to address corporate accountability as a response to the various financial scandals which had started undermining Americans’ confidence in the nation’s……