The impact of the Sarbanes–Oxley Act on the integrity of financial reporting: Was it meritorious?

Bajra, Ujkan; Aliu, Florin; Krasniqi, Armand; Fejza, Ejup

doi:10.1002/jcaf.22619

Cited by 6 publications

(3 citation statements)

References 84 publications

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“…SOX mandates that auditors of public companies attest to the effectiveness of internal controls over financial reporting. This has led to an increased focus on internal control testing as a core component of traditional audit methodologies (Bajra, et. al., 2023, Wahhab & Al-Shammari, 2021.…”

Section: Traditional Corporate Auditing Practicesmentioning

confidence: 99%

Evolving trends in corporate auditing: A systematic review of practices and regulations in the United States

Glory Ugochi Ebirim,

Beryl Odonkor,

Ese Eigbadon Oshioste

et al. 2024

World J. Adv. Res. Rev.

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This systematic review delves into the dynamic landscape of corporate auditing in the United States, examining the historical underpinnings, current practices, and regulatory frameworks that shape this critical aspect of corporate governance. Corporate auditing stands as a linchpin in fostering financial transparency, ensuring accountability, and bolstering investor confidence. Over time, auditing practices have evolved in response to the intricacies of modern business, technological advancements, and the ever-changing regulatory environment. The review begins with an exploration of the importance of corporate auditing, emphasizing its crucial role in maintaining financial integrity and safeguarding the interests of stakeholders. The evolution of auditing practices unfolds as a narrative of adaptation and innovation, reflecting the need for auditors to navigate complex economic landscapes. Traditional methodologies, long considered the foundation of assurance services, are scrutinized in the context of their historical development and contemporary relevance. A significant focus is dedicated to emerging trends in corporate auditing, with a particular emphasis on technology-driven transformations. The integration of artificial intelligence, machine learning, and data analytics reshapes the audit landscape, providing auditors with powerful tools to enhance efficiency and accuracy. Additionally, the review explores the advent of remote auditing practices, examining the impact of digitalization on audit methodologies, along with the challenges and opportunities associated with this paradigm shift. Environmental, Social, and Governance (ESG) considerations emerge as a pivotal aspect of contemporary corporate audits. The review investigates the growing importance of ESG factors, the incorporation of these considerations into auditing practices, and the broader implications for corporate accountability. Regulatory responses to these evolving trends are analyzed, encompassing updates from the Securities and Exchange Commission (SEC) and international influences on U.S. auditing standards. The abstract concludes by offering a forward-looking perspective, anticipating future developments in corporate auditing and highlighting the delicate balance between tradition and innovation in this critical domain of corporate governance.

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Section: Traditional Corporate Auditing Practicesmentioning

confidence: 99%

Evolving trends in corporate auditing: A systematic review of practices and regulations in the United States

Glory Ugochi Ebirim,

Beryl Odonkor,

Ese Eigbadon Oshioste

et al. 2024

World J. Adv. Res. Rev.

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“…For companies to thrive sustainably, financial integrity-which is characterized by accurate financial reporting and transparency-is crucial. It is crucial for fostering investor trust and drawing in outside capital (Bajra et al, 2023). Furthermore, building credibility with suppliers, consumers, and other stakeholders requires financial honesty (Bank, 2023).…”

Section: Financial Integrity Of Startupsmentioning

confidence: 99%

Exploring the Relationship Between Regulatory Compliance, Internal Control, Managerial Competence, and Financial Integrity of Indonesian Start-Ups

Chatra

2023

ijat

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This study examines the relationship between regulatory compliance, internal control, management competence, and financial integrity to better understand the dynamics that influence the resilience and performance of Indonesian startups. Our quantitative research uses Structural Equation Modeling with Partial Least Squares (SEM-PLS 4) and is based on a stratified random sample of 215 startups from different industries, sizes, and countries. Strong validity and reliability are demonstrated by the measurement model, and good correlations between important constructs are highlighted by the path coefficients. The beneficial effect of regulatory compliance on financial integrity is shown to be amplified by internal control, which is found to be a key mediator. The validity of the suggested relationships is reinforced by the good fit of the structural model. The results of this study provide insightful information for academics, politicians, and startup executives, and offer solutions to navigate the complicated terrain of the startup ecosystem in Indonesia. The results of this study provide useful information for policymakers and startup executives. Maintaining financial integrity requires strengthening internal controls, especially when combined with an emphasis on managerial competence. A customised approach considering industry, scale, and local environment can improve overall financial health and regulatory compliance

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“…For instance, under the Sarbanes-Oxley Act, accounting managers are held personally accountable for inaccuracies in the financial reports of their companies [5]. This responsibility underscores the need for them to implement stringent internal controls and audit procedures.…”

Section: Introductionmentioning

confidence: 99%

The Associations of Spirituality, Adversity Quotient and Ethical Decision Making of Accounting Managers in the Contexts of Financial Management and Corporate Social Responsibility

Pong,

Fong

2023

Sustainability

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The objectives of this study are to explore the associations and interactions of spirituality, the adversity quotient (AQ), and the ethical decision making (EDM) of accounting managers in the contexts of financial management and corporate social responsibility. Additionally, the study aims to evaluate the predictive roles of spirituality and the adversity quotient (AQ) on their ethical decision making. A self-administered questionnaire was utilised to collect data from 510 accounting managers via the quantitative approach. The research results provide empirical evidence that the spiritual wellbeing (SWB) and AQ of accounting managers are positively correlated with EDM. In particular, the personal–communal domain of SWB is a significant predictor of moral equity, contractualism, egoism and deontology, whilst the environmental domain of SWB is a significant predictor of contractualism, utilitarianism, egoism and deontology. In terms of demographics, religion is a significant predictor of moral equity and deontology, whilst the origin and ownership dimension of AQ is a significant predictor of moral equity, contractualism, egoism and deontology. The control and reach dimensions of AQ are a significant predictor of moral equity respectively. Overall, individual characteristics, personal values, beliefs, interpersonal relationships and the environmental domain of SWB significantly influence EDM among accounting managers.

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The impact of the Sarbanes–Oxley Act on the integrity of financial reporting: Was it meritorious?

Cited by 6 publications

References 84 publications

Evolving trends in corporate auditing: A systematic review of practices and regulations in the United States

Evolving trends in corporate auditing: A systematic review of practices and regulations in the United States

Exploring the Relationship Between Regulatory Compliance, Internal Control, Managerial Competence, and Financial Integrity of Indonesian Start-Ups

The Associations of Spirituality, Adversity Quotient and Ethical Decision Making of Accounting Managers in the Contexts of Financial Management and Corporate Social Responsibility

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