You will prepare and submit a term paper on The Sarbanes Oxley Act: Boon or Bane. Your paper should be a minimum of 1500 words in length. Lawmakers who represent the investing public believe that the SOX can end fiscal abuses of the past years particularly the cases of Enron and WorldCom where the key officers of the corporation with the connivance of auditors can really make of fool of the investing public in manipulating accounting information with less restriction (Platt, 2004). SOX therefore basically works on the premise of putting more requirements to increase the regulatory power of the Securities and Exchange Commission (SEC) and other regulators to possibly prevent in the bud financial and accounting problems from becoming too wide in their fraudulent consequences before the corrective action could be done. The effect therefore of SOX could not be easily seen in terms of whether it could prevent another Enron or WorldCom fiasco. This paper, therefore, considers the arguments of both sides of the coin but the resolution on which should win should depend on what period time should be made as a reference. &nbsp.Since time will be the better arbiter, judgment is reserved due to not being able yet to have that long time to judge the more complete effect of SOX.&nbsp.By manipulating the accounting information, one can become wealthy in terms of rising stock price especially if done by a chief executive officer of a company with the participation of key officials in the organization, who are supposed to be responsible to the objectivity of accounting information. This is what actually happened in the case of WorldCom where its CEO Bernard Ebbers took advantage of this position in the company by reporting accounting information different from their objective or reliable form. &nbsp.


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