Intellectual Property Rights And Digital Pirating

INTELLECTUAL PROPERTY RIGHTS AND DIGITAL PIRATING Luke Telfer STATEMENT OF THE ISSUE The idea of intellectual property can be traced back to ancient Greece with the first known reference involving the protection of culinary recipes developed by chefs. According to the World Intellectual Property Organization, â€Å"intellectual property refers to creations of the mind: inventions; literary and artistic works; and symbols, names and images used in commerce.† The violation of intellectual property rights can take many forms, however the main ethical issue to be examined here is that of digital piracy of copyrighted artistic works and of the variety that involves individual consumption of such material (as opposed to blatant profiteering of the†¦show more content†¦ARGUMENTS IN FAVOR OF INTELLECTUAL PROPERTY RIGHTS There are several approaches to defending the idea of intellectual property rights, each with their own strengths and weaknesses. Such approaches generally take one of three largely teleological forms: personality theory, utilitarian rationale, and Lockean arguments. Each of these forms advocates for the value of intellectual property rights in general and not specifically toward any particular type of intellectual property. Personality Theory Personality-based justifications for intellectual property stem largely from Georg Wilhelm Friedrich Hegel’s ideas on human will, personality, and freedom. Hegel insists that human will is the fundamental property of existence and that our will is perpetually trying to achieve actuality. This eternal struggle is therefore the essence of personality and it is in part manifested externally through our property. With this view in mind, creative works are necessarily the property of the creator and the creator ought to have complete control over them. This is an important view for many forms of creation, but it is relatively unclear in how it pertains to digital copies of a creation. For example, defacing a classical painting would be seen as immoral even if the perpetrator has legally acquired ownership of the painting because the creator still has certain rights over the creation. However, if a

Savage Journey in Joseph Conrads Heart of Darkness Essay

Heart of Darkness: Savage Journey Inherent inside every human soul is a savage evil side that remains repressed by society. Often this evil side breaks out during times of isolation from our culture, and whenever one culture confronts another. History is loaded with examples of atrocities that have occurred when one culture comes into contact with another. Whenever fundamentally different cultures meet, there is often a fear of contamination and loss of self that leads us to discover more about our true selves, often causing perceived madness by those who have yet to discover their own self. Joseph Conrad’s book, The Heart of Darkness is a story about Man’s journey into his self, the discoveries to be made there and about†¦show more content†¦Marlow tells us about the Ivory that Kurtz kept as his own, and that he had no restraint, and was a tree swayed by the wind† (Conrad, 209). Marlow mentions the human heads displayed on posts that â€Å"showed that Mr. Kurtz lacked restraint in th e gratification of his various lusts† (Conrad, 220). Conrad also tells us his... nerves went wrong, and caused him to preside at certain midnight dances ending with unspeakable rights, which... were offered up to him† (Conrad, 208), meaning that Kurtz went insane and allowed himself to be worshipped as a god. It appears that while Kurtz had been isolated from his culture, he had become corrupted by this violent native culture, and allowed his evil side to control him. Marlow realizes that only very near the time of death, does a person grasp the big picture. He describes Kurtz’s last moments as though a veil had been rent† (Conrad, 239). Kurtz’s last supreme moment of complete knowledge† (Conrad, 239), showed him how horrible the human soul really can be. Marlow can only speculate as to what Kurtz saw that caused him to exclaim The horror! The horror, but later adds that Since I peeped over the edge myself, I understand better the meaning of his stare... it was wide enough to embrace the whole universe, piercing enough to penetrate all the hearts that beat in the darkness... he had summed up,Show MoreRelatedAnalysis Of Joseph Conrad s Heart Of Darkness1164 Words   |  5 PagesAs Joseph Conrad’s Heart of Darkness eludes to the inverse interpretation of colors as a motif, Francis Ford Coppola’s Apocalypse Now not only mimics but also portrays through the Vietnam War, the contrasting misguided cru sades of enlightenment that the supreme race forces upon savages. The reversed meanings amongst the colors and entangled description in Heart of Darkness shows how backwards civilization is through the need to enlighten or civilize the natives is flamboyantly flaunted in both theRead MoreEssay on Feminist Theory in Heart of Darkness1199 Words   |  5 PagesMonsters in Heart of Darkness Joseph Conrad’s varying depiction of women in his novel Heart of Darkness provides feminist literary theory with ample opportunity to explore the overlying societal dictation of women’s gender roles and expectations in the late nineteenth and early twentieth century. The majority of feminist theorists claim that Conrad perpetuates patriarchal ideology, yet there are a few that argue the novel is gendered feminine. Sandra Gilbert and Susan Gubar claim â€Å"Conrad’s Heart of Darkness†¦penetratesRead More Use of Light and Darkness in Joseph Conrads Heart of Darkness 1504 Words   |  7 PagesUse of Light and Darkness in Joseph Conrads Heart of Darkness  Ã‚      Joseph Conrads Heart of Darkness contrasts light and darkness, to represent the civilized and uncivilized sides of the world. Conrad uses light to represent the civilized side of humanity while contrasting the dark with the uncivilized and savage. Throughout the thematic stages of the novel, that is the Thames river London, the companys office in Belgium, the journey to the heart of darkness and the conclusion, light andRead More Light and Dark in Joseph Conrads Heart of Darkness Essay example844 Words   |  4 PagesLight and Dark in Heart of Darkness  Ã‚      Joseph Conrads Heart of Darkness is a tragic tale of the white mans journey into the African jungle. When we peel away the layers, however, a different journey is revealed - we venture into the soul of man, complete with the darkness of depravity as well as the wonderful. In this essence Conrad uses this theme of light and darkness to contrast the civilized European world with the savage African world in Heart of Darkness. As aforementioned,Read MoreJoseph Conrad s Heart Of Darkness1488 Words   |  6 PagesJoseph Conrad’s s novel Heart of Darkness portrays an image of Africa that is dark and inhuman. Not only does he describe the actual, physical continent of Africa as â€Å"so hopeless and so dark, so impenetrable to human thought, so pitiless to human weakness†, (Conrad 154) as though the continent could neither breed nor support any true human life. Conrad lived through a time when European colonies were scattered all over the world. This phenomenon and the doctrine of colonialism bought into at hisRead More Misleading Interpretations of Conrads Heart of Darkness Essays1186 Words   |  5 PagesMisleading Interpretations of Conrads Heart of Darkness Chinua Achebe, a well-known writer, once gave a lecture at the University of Massachusetts about Joseph Conrads Heart of Darkness, entitled An Image of Africa: Racism in Conrads Heart of Darkness. Throughout his essay, Achebe notes how Conrad used Africa as a background only, and how he set Africa up as a foil to Europe,(Achebe, p.251) while he also projects the image of Africa as the other world, the antithesis of Europe andRead MoreHeart of Darkness1699 Words   |  7 PagesThe immortality and blindness to a dark continent Joseph Conrad’s s novel â€Å"Heart of Darkness† portrays an image of Africa that is dark and inhuman. Not only does he describe the actual, physical continent of Africa as â€Å"so hopeless and so dark, so impenetrable to human thought, so pitiless to human weakness†, (Conrad 2180) as though the continent could neither breed nor support any true human life. Conrad lived through a time when European colonies were scattered all over the world. This phenomenonRead MoreComparative Essay1096 Words   |  5 Pagesanalysis: â€Å"Heart of Darkness† â€Å"Apocalypse Now† Student: Mora Vandenbroele Teacher: Azucena Estigarribia Year: 11th â€Å"A† â€Å"Heart of Darkness† vs. â€Å"Apocalypse Now† It is very interesting how humans are so intrigued about the evilness in the world, and the dedication of some men to compare Hell with the Earthly horror. Joseph Conrad, a genius writer, took his time to show this with his masterpiece â€Å"Heart of Darkness† that wasRead MoreContradicting Symbolism in Joseph Conrads quot;Heart of Darknessquot;915 Words   |  4 Pages Joseph Conrad utilizes several important literary techniques throughout his story Heart of Darkness. One predominant method of his storytelling is the use of contrasting sensory imagery between black and white and altering the symbolism the colors entail. This theme is clearly prevalent when we read of Marlows childhood dreams and when comparing and contrasting the Africans, the Europeans, and the corruption of the ivory trade. Generally, Africa and Africans are described in terms ofRead MoreHeart Of Darkness Essay1426 Words   |  6 PagesJoseph Conrads novel Heart of Darkness uses character dev elopment and character analysis to really tell the story of European colonization. Within Conrads characters one can find both racist and colonialist views, and it is the opinion, and the interpretation of the reader which decides what Conrad is really trying to say in his work. Chinua Achebe, a well known writer, once gave a lecture at the University of Massachusetts about Joseph Conrads Heart of Darkness, entitled An image of Africa:

Dance Hall Of The Dead Book Report free essay sample

Throughout the book, many detectives were given false information that loud attempt to point them in the wrong direction. The next important character of this book is the twelve year old Gun boy that was murdered. His name is Ernest ACTA, who was a very important child to the Badger Clan, who all thought he would grow up to be a natural leader in the community. Ernest was selected by his community for the honor of being the Little Fire God at the Shalom festival. Ernest was apparently open minded, and the least prejudice person of all the Gun community.Next important people are the Bowlegs family. There is the father Shorts Bowlegs, the youngest brother Cecil Bowlegs, and finally the other of the rooters George Bowlegs. According to Loophole, Shorts was a major alcoholic. Loophole also said he seemed to be a loving father, but his alcohol deterred often deterred most of his great actions. He eventually was killed during sometime in the book. Cecil Bowlegs according to Loophole was a very young but brave Navajo boy that he misinterpreted to being George Bowlegs, Cells brother.Cecil was a very cautious person when it came to anyone who worked for the authorities, which made it a really hard challenge for Loophole to get information about the case. Throughout the book, Loophole had to essentially lie to Cecil to try ND gain his trust. Cecil caught on to his tactics, which lead to him having to apologize for lying to the boy and lead to him treating him with much more respect. After Cells father died he truly entrusted himself in Loophole. George Bowlegs is best known as Reenters best friend who was a Navajo. George seems to be growing up with a tough life, knowing that his mother ran away and his father being a raging alcoholic. To further this problematic situation, George is attending a Gun school where is suffering from very discriminatory actions from his fellow students. George was seen as a role del for Cecil. George was hunting for food for both his brother and father, and became a successful hunter Of both styles Of the Gun and the Navajo. The next character of importance is the man who Lieutenant Loophole determined through his investigation that murdered Shorts Bowlegs, George Bowlegs, and Ernest ACTA His name is DRP.Reynolds. Loophole has uncovered through his investigations that DRP. Reynolds was a well-known anthropologist that had planted fake arrowheads at an archeological dig site that he was supposedly funding for his upcoming protog, Ted Isaacs. With hat being said, Loophole believes this the reason why DRP. Reynolds killed Ernest, George, and Shorts, to prevent anyone from finding out the truth behind what he had done. The last important person to the story is the Gun Chief of Police De Piquant. When Loophole is dead certain that DRP.Reynolds was the killer, he went right to the chief. De then doesnt even make an attempt to arrest DRP. Reynolds. Coincidentally this leads Loophole to tell the Gun of the murder of Ernest ACTA, George Bowlegs, and Shorts Bowlegs. This is when the Gun found DRP. Reynolds, and killed him for killing one of their own, Ernest ACTA. In the beginning of the book, we learn of who Ernest ACTA was and how he ended up being murdered. Ernest was a young boy that was selected by his people, the Gun, to be the Qualities, also known as the little fire god, at the festival of Shalom.Then the writer goes on to explain that the fire god must be in shape, if he isnt Gun people would beat him with their wands. We also meet George here, we find out that he wanted to know the secrets of the Gun people and this tended to make Ernest angry. Then one night that Ernest running along one of his routes, he thought George would be waiting for him, UT to his dismay it was an ancestor spirit that only one sees when they are about to die. Finally we get to meet the Lieutenant that is going to be investigating the murder of Ernest ACTA.His name is Lieutenant Joe Loophole who is a Navajo Dine policeman. One of the first things that Loophole did was he went to try and investigate Reenters best friend George. But in return this is when he ended up meeting Cecil, Georges younger brother, who was a Navajo also. Loophole then tries to get some answers our of Cecil, but Cecil is very skeptical of law enforcement figures, especially since he thinks that he s trying to find his brother George who they may think killed Ernest. Cecil tends to think otherwise from Loopholes investigation.Loophole then goes to where Cecil has pointed out that Ernest and George had stolen some artifacts from, which took him to an archeological dig site. He meets Ted Isaacs and DRP. Reynolds, the two who want to prove DRP. Reynolds theory that some Folsom men have artistic arrowhead styles that were credited to other such cultures in a form of error. After he hears about the theory, Loophole then asks about if he has seen Ernest and George. DRP. Reynolds then tells Loophole that he had chased the two boys out of his dig site so that they wouldnt destroy or tamper with anything.Loophole asked if they had stolen anything and he claimed that they did not, which doesnt add up to what Cecil had told him before he went to the dig. A couple days after the death of Ernest Cater authorities have determined that it was indeed a homicide, Ernest was murdered. Loophole then started to investigate where he was murdered. While he was there, Loophole had used his excellent tracking skills and discovered the many tracks he found. He found Reenters uncles, who found Ernest, the chief of polices, Georges boots, and finally an unknown track made from a moccasin.According to one of the details Loophole found, it is to his understanding that the killer and Ernest had a stare down before he was eventually murdered. Then to finalize his investigation, he doesnt think that George killed Ernest. Loophole then reflected back on what his grandfather Instabilities had taught him. He told him that the only goal for man was beauty, and that beauty was found only in harmony, and that this harmony of nature was a matter of dazzling complexity. His grandfather told him that all patterns are caused by action and reaction and by cause and effect.The term he told him was in all things a pattern, and in this pattern, the beauty of harmony. Thus one learned to live with evil, by understanding it, by reading its cause. Thus one learned, gradually and methodically, if one Was lucky, to always go in beauty, to always look for the pattern, and to find it. All of these terms led Loophole to think back on the evidence that he had and try to connect someone with what happened to Ernest. Near the middle of the book, Loophole went back to interview Shorts Bowlegs. When he went inside, he was trying to remember what he was wearing and how he was acting.When Loophole opened the door, the only thing he saw was Shorts lying face down with a knife wound to his back. This is also when he noticed that two horses had been missing, but one returned and Cecil had arrived back to the Hogan. The other he assumed was missing from George taking it to wherever he may be hiding. The only thing left for Loophole to do is to start interrogating the students that George went to school with to see if he can find his whereabouts. Looking back on all the information Loophole has, he now has a double minced, and the only person that may truly know what is going on is missing.He reflects that he doesnt think that George is the killer because of the mysterious moccasins he seen at the scene of the murder of Ernest. If it were the case of George, he would have had to switch shoes which didnt really make sense to Loophole. The only key part of this investigation is he needs to either find George the murderer, or George the future victim of a double homicide. About three-fourths the way through the book, Loophole finally has a lead from Father Mingles that makes him believe he has headed to the Dance Hall of he Dead.Amazingly on the way he finds Susanne hitchhiking down the road, which he uses to his advantage because he knows George, would talk to her if they were to find him. After they arrive Loophole uses his excellent tracking skills to find the horse tracks from the missing horse at the Bowlegs Hogan, which h e ends up finding. Then after he found the tracks, he knew that George was an excellent hunter and that he needed food, so Loophole was to track the nearest deer tracks and hopefully those will lead to Georges hopeful location.Finally near the end of the book, Loophole was at the festival, trying to let people know that he has given up looking for George. Just as he was about to call it quits, he sees George standing on a balcony across from him. Loophole obviously went into pursuit to try and catch him, but by the time he got to the alley he saw George go in, he heard a loud shot. When he found George, he was dead, and all he seen was his body and a feather from a Colombia mask. He then followed the tracks from the killer, and saw two moccasin tracks had captured the killer and this is when he realized that the investigation was all over.Loophole never told Maloney who the killer was, but thought maybe nee day he will send him a note explaining who the killer was. This was a very interesting and very well illustrated and detailed book. I am not one to read books but I am glad you assigned these to us. Was surprised to See that the killer wasnt George to say the least. He lasted how long out on the run from a professional tracker and from a man who wanted to make sure he wouldnt unfold his fake important dig. It was also very intriguing to see it was DRP. Reynolds, and how they incorporated him into the story.It all revolved around the Gun/Navajo ways and it showed me a lot about how hey all will do anything for their own culture. The only thing I thing that made it difficult for police to help solve a case is when they dont give any details or the will to work with the police. For example, Cecil would not help Loophole because he worked for the police and he was even a fellow Navajo. I also see this being an issue anywhere around us today. You have those who still own land and they cherish that within their community. They have their own ways of policing and don t really let others interfere with anything on their land.

Impact of Sarbanes Oxley

Question: Describe the impact of Sarbanes-Oxley Act 2002 on the development of corporategovernance rules in a selected country of your choice ( Please note the focus should on thedevelopment after the 2002 Act). Answer: Executive Summary The entire report can be created to represent the audit issues which had occurred in the US for conducting an act. The act is named as Sarbanes-Oxley Act. An audit opinion mainly indicates the adequate primary controls as well as the financial statements of the entire company. It indicates about the complete, accurate with the applicable accounting standers. The first portion of the report shows the major issues occurred for the act. After that, the report shows the current accounting standers related to audit and briefly discussed all the objectives and opinion related to the standers. The report also depicts the entire relationship between auditor and client on the Auditor-Client Relationship portal. Lastly, it shows the significant impact of the act which needed to develop the corporate governance role of US. Introduction The Sarbanes-Oxley Act was established in the month of July, 2002 and introduced a huge change in the area of the business governance as well as the financial practice. It is crucially introduced after Senator Paul Sarbanes with a Representative named Michael Oxley where it set some fixed deadlines for fulfillment. The main expectation of SOX is to be the cure because of the unexpected sickness which affected the corporate part of America. It mainly came along with a huge change in the field of auditing. The term Auditing can be described in two ways. Accounting: Systematic verification and examination of a company's book of the transaction record, account, physical inspection of inventory by a qualified accountant and other relevant documents. Quality control: Episodic onsite authentication to determine whether or not a recognized quality system is being efficiently implemented. Here the assignment is about auditing, and we are here to discuss the field of auditing after Sarbanes-Oxley Act in 2002. This mirror part of the act is "Public Company Accounting Reform and Investor Protection Act." There are also more than one acts that also apply to privately held companies. As a result of SOX, the top management has the responsibilities to certify the exact financial information. If there is any mistake or duplicity in the financial activities, penalties will take place, in spite of this SOX also have increased the over side role of the board of directors, and the auditors who come to do work will get the independence they want. The changes are made by the act in the relationship between the Auditor and the client. There are some cost benefits of this act; they are Compliance costs, benefits to firm and investors, etc. Issues in Auditing An auditing part of a company contains several types of the auditor. Internal auditors are the primary part of the verification section. Also, there have two types of auditors. Those are Government auditors as well as Independent auditors. All employee performance can be reviewed by Internal auditors. The internal auditors always observe the company regulations and the financial system of the company (A handbook for measuring employee performance 2001). They allow leaders of the company to be informed about everything happening in the company and to address any issues or concerns with the company early. But according to one of the recently released reports in the Internal auditors institute, most of them are lack of adequate flexibility to meet the business challenges and any unexpected risks in the business. There are different kinds of issues which confront the internal auditors (Radcliffe 2008). The annual risk assessments become inadequate due to rapidly emerging risks must be un derstood by the chief audit executives (CAEs). They should revise audit plans and inform stakeholders about the changes. The auditors should focus on the areas of the particular organization which is likely to be affected. Traditional, routine risks can be easily identified and are readily assessed but the emerging risks which are not identified before this month or year are one of the hardest risks to be identified and assessed by the auditors. The majority of CAEs said that they update their audit plan once a year or twice a year, but 16 percent of them only believe that this plan audit process is flexible enough to respond to any risks emerging immediately. The internal audit must have a broad view of risks. To identify the document and manage the internal control significantly, a management can be required by the auditor. (Hightower 2009). Thus the auditors must be genuine to management's appraisal of any internal controls entities. This process for assessing the efficiency of c ontrols is not advised by the auditors to begin as early as possible. The field of auditing is highly influenced by this act in the market of US. There are six main areas where the act is most effective since 2002. Oversight board The standards and rules for the audit reports are set on this board. A rule is there that all the companies, accounting firms which must be registered by oversight board. Auditor Independence Auditors now contains a register about non audit service. They will not be able to perform at the time of the audit. The act also says that a firm audit employee must wait one year to become a former client's executive (Damane 2001). Before completed any audit service, it is primary duty for a former firm to wait for one year ti hire new employer. Better Financial Disclosure Transaction as well as relationship which mainly happen to be the off balance sheet which can affect the financial status big time must be closed somehow (Laibstain 1988). Personal loans of corporations to related executive is now strongly restricted. In the annual report, It is cleared that the management is responsible for everything. Internet disclosures variance The interest disclosure can conflict the research analysts who mainly make the offer research reports (LeUSemia Research Reports: Guide for authors 2012). The analyst has to report whether he/she has received any corporate compensation and give securities for the company or not. Company Fraud Accountability Destroying, falsifying, altering the reports or document with the intentional influence of a federal investigation case is subjective to fined for maximum 20 years of incarceration and the fresh audit papers must be keep on hold for five years (Audit work program 2002-2003 2002). The responsibility of the attorney The professional standard which conduct because of the attorneys representing unrestricted companies earlier than SEC. Security must have a communication between him/her and the CEO of the company. The act is very complicated and confusing also. If one don't follow the rules, ROX can get penalties for the work. Current Accounting Standards and their objectives The written statements which consist of rules and regulations issued by the accounting institutions for uniform and consistent financial statements are known as the accounting standards (Oppermann 2001). It contains the terms and conditions of the accounting policies and the practices by the way of codes, adjustments, and guidelines for the interpretation of the items which appear in the financial statements. That makes it easy for their treatment in the books of account. There are various natures of accounting standards. It serves as a guide to the accountants in the accounting process. It also acts like a dictator in the field of accounting. It acts like a dictator because in some areas the accountants have no choice but to opt for those which are stated in the accounting standards. It also acts as a service provider as it helps in comprising the scope of accounting by certain terms and conditions. The accounting standards are not and it also brings uniformity in accounting methods . Thus it acts as a harmonizer (Blumberg 2014). To specific accounting issues, the accounting standards provide and develop solutions on many occasions. The primary emphasis of accounting standards lies on providing accounting information by the process of decision making. There are many purposes for which the accounting standards are needed. Thus there are many objectives of accounting standards. The different objectives of accounting standards are as follows To provide a standard set of accounting policies disclosure requirements and valuation norms based on which financial statements should get ready (Walsh 2001). To make the financial statements more likely to the subjective matter and comparable. To harmonize the diverse accounting policies and practices to ensure standardization in the case of preparing the financial statement (Bragg and Bragg 2007). To enable the scope of comparison of financial statements and this develop the consistency and the value of financial statements. Auditor-Client Relationship The attention of current Congressional, controlling and fiscal statements has been on the matter of earnings superiority besides the quality statements and user discussions. So, that affects the auditor-client relationship as that built as the planned limits on the nation that general auditor occupancy fallouts in auditor satisfaction(McCoy 2010). The Sarbanes-Oxley Act of 2002 would not execute the compulsory revolution of review organizations(Sarbanes-Oxley Act of 2002-2003). Inside one year of the passing of the act, it commands a learning of compulsory revolution by the Comptroller General of the UK to be accomplished. In an effort to discourse some questions elaborated in variable markets, the Sarbanes-Oxley Act was granted by U.S. Congress as well as it was signed by the President during the summer of 2002(Capital Markets Law Journal - Editorial Board 2015). Among the targeted matters, unique of the significant addressed was the question of auditor's individuality of the clients they inspect. Auditor freedom has frequently been inspected over the previous year everywhere. The nations differ customarily in their different angle of views that auditor's role has been specified, though. Individuality has come in front always nearly common to be between the most important features an accountant can own and one that donates expressively to the dependability of economic information(Financial information 2009). The Sarbanes-Oxley Act helps to solve some of the problemsto auditor individuality under the ISB's intangible agenda (ISB 2001) more efficiently than others. It protects the bondholders and the clients as universal communal from bookkeeping threats and fake practices in the markets. It also increases the accuracy of corporate disclosures(Hollington 2007). Major Elements of Auditor-client relationship effect in the Sarbanes-Oxley Act of 2002 in the US: Public Company Accounting Oversight Board (PCAOB): This title means that it contains nine units and establishments of the Public Company Accounting Oversight Board. It has been created to provide independent oversight of the auditor. Auditor Individuality: This term involves of nine segments and creates standards for that auditor individuality that are taken externally to limit conflicts of interest(Blay and Geiger 2012). It also provides the new auditor sanction necessities and audit companion revolution, and it also contains the auditor journalism necessities. It doesn't accept inspecting firms from providing non-audit facilities to the similar clients. Corporate Accountability: This label three comprises of eight segments and mandates that the maximum liability of the accuracy and the completeness of corporate financial reports should be taken by the senior executives(Datta, Iskandar-Datta and Singh 2014). 4. Boosted Financial Exposes: This term involves of nine units and defines advanced broadcasting necessities for financial connections, counting preformed figures, off-balance-sheet connections and stock communications of commercial officers(Monthly report on financial transactions 2010). Attention on Analyst Struggles: This term includes unique segment. It consists of the definition of the code of conduct for securities analyst. 6. Instruction Possessions and Consultant: This title includes four segments. It gives the definition of the performs to restore depositor self-assurance in safeties predictors(Trautmann and Hamilton 2001). It also describes circumstances underneath that an individual can't be accepted committed as a negotiator, advisor or dealer. Revisions and Intelligences: This term includes five units. It consists of the belongings of merging of public bookkeeping organizations. Corporate Criminal Fraud Accountability: This title includes six sections. It also called the "White Collar Crime Penalty Enhancement 2002." This section also improves the criminal penalties and conspiracies. Corporate Tax Returns: This title includes only one section, and the company tax return should be signed by the Chief Executive Officer(Basak and Clayman 2005). White Collar Corruption Consequence Improvement: This term includes six units. It is also referred to as the "White Collar Crime Penalty Enhancement Act 2002." It gives a stronger sentencing guidance. Corporate Fraud Accountability: This term includes seven sections. It is also referred to as the "Corporate Fraud Accountability Act of 2002." This section is used to identify the criminal offenses and specifies the penalties under the section 1101. Auditors do the potential measures by over viewing the following points, which includes: The percentage of audit work has been received by the firm The amount fees that has been outsourced for bookkeeping Consulting fees The amount of organizations that has been designed by the CPA mentors for the clients The valuation of the services that a client receives The SOX Act allows various consulting services for the clients and huge auditor independence. Impact of the act on the development of corporate governance rule Business scandals became a major drawback among big public companies between 2000 to 2002. The Sarbanes-Oxley Act was created in July of 2002 for restoring the confidence of market investors and also closed all the loopholes with the open companies to defraud the investors. Also, the act may contain some profound effects which can create an effective impact on the corporate governance of United States. All the popular public companies were required by the Sarbanes-Oxley Act for straightening the audit committees (Braiotta 2004). Also, the act requires for performing a test of internal control as well as for observing the personality of directors. In a financial statement, the act set the personal liability of directors as well as strengthen disclosure. Also, stricter criminal penalties can be established by Sarbanes-Oxley Act to secure public from frauds as well as trained public for operating their business efficiently. One of the practical impact of Sarbanes-Oxley Act in US for straitening audit committees among open or public companies. A wide leverage can be received by the audit committees for taking a decision on overseeing the company's top management. On the primary management division of a company, it is crucial to give full independence to all committee members. The committee members also gain current responsibilities. Some of the responsibilities are- Approving the numerous audit as well as non-audit Manage complaints on the accounting practices of the management selecting and observing external auditors The division 404 of Sarbanes-Oxley Act contain the costliest part. Public companies are required by that part for performing the test of extensive internal control. It also includes the report on their yearly audit. In the financial reporting, it requires enormous effort as well as external accountants involvement for testing and collecting manual and automatic control. It is also available for IT personnel. The companies which have heavily rely on their manual controls, they faced some burdensome on their compliance cost. To make tough financial position, all companies can be influenced by Sarbanes-Oxley Act (`Financial Position... Strong' 2006). The act also makes the companies more efficient as well as centralized. In financial reporting, Sarbanes-Oxley Act can change the responsibility of entire management. The act mainly required the personal certification of quality managers to finalize their accuracy reports. The top managers may be facing 10 to 20 years in prison for making of false or wrong certification intentionally. If there have occurred any critical situation for a company of US to require accounting restatement due to the misconduct of management, then the top level managers can be forced to give up their profits and bonus as well as allowance. If any director as well as the manager can trap for securities law violation, then he/she can be restricted to lead their job. He can be restricted to do the same job also on different companies. The entire disclosure requirement can be straitened by The Sarbanes-Oxley Act significantly. Any off-balance sheet material can be disclosed for a required arrangement which is required by the public companies (Audits of public companies 2008). Some of the arrangements can be followed- Operating leases Special purposes entities Also, there have a pro forma statements which can also be required to disclosed by the US company. It can be disclosed to determine the accepted accounting principles (GAAP). All the stock transactions can be reported by the insiders for Securities and Exchange Commission (SEC), which contains maximum two corporate days as well. Punishment, which is named as harsher punishment can be imposed by The Sarbanes-Oxley Act to obstruct the justice as well as to identify and observe the securities fraud. It also obstructs another fraud like- Mail fraud Wire fraud The judgment for the securities fraud can be incensed for 25 years maximum. The prison time for the securities fraud can be increased for 20 years maximum. In the case of mail fraud as well as wire fraud, the perfect punishment can be increased for five years to 20 years in the prison time. The Sarbanes-Oxley Act can also take the fine from public comities for the same offense, and the fine will be increased by depending on the situation. The corporate governance of US public companies can be affected by Sarbanes-Oxley Act, and also the belongings of the act can be reflected the external auditors. The Public Company Accounting Oversight Board can be established by the act. The board broadcasts the governance standard for the public accountants on the US based companies (BEDARD 2012). Also, the board can be introduced by the act to restrict their conflict of interest. It requires the main audit partner, whose position can be shifted by each five years on the similar public company. Conclusion There are more than one that comes in the mind while writing the conclusion about SOX and auditing altogether. SOX and auditing are interrelated with each other. One makes changes, and the other one changes itself due to the changefulness of the first one. Here it means that the acts SOX has put a huge impact in the market of accounting which directly or indirectly has changed the auditing market. Especially the US market has been brought a huge change in the field of accounting. The primary ratification of Sarbanes-Oxley Act is not only to identify the main problem context of current situation for US banking as well as finance industry. After the Act had taken place, the government had introduced some key provisions for, Discourage the variance of interest among several players in financial industry. The height of responsibility of corporate US has been increased. Simplicity in business reporting. 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