Answer the following two question in 275-300 words each question.
Question 1. Review the provisions of the Sarbanes-Oxley Act of2002 to address the accounting scandals in the late 1990s and early 2000s (Enron, World Com, etc.). Identify the provisions that you believe made the most significant impact. What other provisions could have been included in the Act to strengthen the responsible stewardship and integrity of the accounting profession? Conversely, what existing provisions in the Act do you believe (if any) are unnecessary or over-regulate the profession?
Summarize the events of a recent accounting scandal. Identify how the illegal or unethical act was detected and describe the punishments that resulted (fines, prison terms, etc.). Consider what could have been done to detect this act earlier orto prevent itfrom happening in the first place. Select a different example than those listed in previous posts.