ACT101

What were the corporate scandals that led to its creation?
List and describe a minimum of three important characteristics of the reform?
What steps did the reform take to improve accounting accuracy?
What steps did the reform take to improve accountability?
What is your opinion as to why accuracy and accountability are important to society?

Think about the various stakeholders to a company, not just those using the financial statements to make investment decisions. Can you think of people that may be affected by poor accounting control that might have nothing to do with the business itself?

Answer all the question above in a essay format .