SOX_Paper__.docx CYB-220 Inventor Protection Program: A Look into The Sarbanes-Oxley Act

SOX_Paper__.docx  CYB-220  Inventor Protection Program: A Look into The Sarbanes-Oxley Act  College of Humanities and Social Sciences, Grand Canyon University  CYB-220  Abstract   In this paper, the main focus is on the Sarbanes-Oxley Act of 2002 and the reasoning behind creating this legislation. Another focus will be on Enron, an energy company that played a major role as to why SOX was established in the first play. With today™s society and number of investors, SOX plays a major role in ensuring the accountability and reliability of major corporations.   The Effect of Sarbanes-Oxley Act  The Sarbanes-Oxley Act was passed in 2002 following a major scandal from the company Enron, a major American company dealing with energy in the late 1900s and early 2000s. During their rise, Enron stock was increasing each day, becoming a very profitable company that investors were trying to get into. The key to Enron major success was a tactic that people would consider under the table, Enron, a tactic know as mark-to-market accounting. (Abdel-khalik, A. Rashad, 2019)   Using this tactic, Enron was able to record their assets as fair market value, rather than their book value. This allowed Enron to only show profits for the company, and not have to show any loses so that their stock can go up and have more people investing into their company. Enron was founded of wrong doings in many different aspects, but soon it would all end as once investors started finding out about the truth regarding the company™s p