Some people argue that the internal control requirements of the Sarbanes-Oxley Act (SOX) put U. S. companies at a competitive disadvantage to companies outside the United States. Discuss the competitive implications (both pros and cons) of SOX.

Explanation:

the sarbane oxley  act was introduced due to the high rate of fraud cases that was prevalent in the financial market.  It protects investors from fraud.

This answer is to highlight some of the pros and cons of the Act

SOX has both merits and demerits to the companies who implement it.

The Pros are:-

1. After it was the introduced there have been no major cases financial statement fraud in the United States of America. It has been advantageous in this aspect.

2. Financial information has become more reliable than it was in the past. It has brought about an increase in the reliability of financial information to members of the public as certain guidelines have been specified that must be followed by all organizations.

3. it has brought about transparency, no important information is withheld from financial statements.

cons

1. greater cost are required for auditing to be done by an organisation. following sox guidelines auditors put in more efforts

2. the cost of implementation is great. more resources are usually hired by an organization because sox has some procedures that could be said to be complicating.

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