Section 404 of Sarbanes-Oxley Act: An Analysis of External and Internal Responses

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Authors

Martin, James
Ockree, Kanalis

Issue Date

2008-10-1

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Working paper

Language

en_US

Keywords

Auditing , Corporate Governance , Sarbanes-Oxley Act , SOX

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Abstract

Exhaustive research has been done on the effects of the Sarbanes-Oxley Act (SOX) since its passage in July 2002. Researchers such as Rittenberg and Miller (Rittenberg, 2005) found improvements in information technology controls and anti-fraud processes. Wagner and Dittmar (Wagner, 2006) found extensive SOX benefits related to improvements in internal control from reduced human error and improved documentation. This paper adds to the body of prior research by identifying and analyzing collateral internal and external reactions to material weaknesses reported following SOX. Specifically, the authors identify and analyze five external outcomes and four internal responses related to companies which have reported material weaknesses in internal control pursuant to SOX.

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Washburn University. School of Business

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