Impacts of Sarbanes-Oxley Act on UK Companies Essay

Impacts of Sarbanes-Oxley Act on UK Companies - Essay Example The law has eleven sections, each with a varying amount of subsections. Each title has tremendous effect on the business and legal environment, with titles ranging from auditing, inspection of registered public accounting firms, accounting standards, establishment of an accounting oversight board, auditor partner rotation, corporate responsibility for financial reports, and probation to personal loans to executives, among others. Sarbanes - President George W. Bush signed Oxley in July 2002. The authors of the law are Paul Sarbanes and Michael Oxley. Sarbanes is the longest serving U. S. senator in Maryland history, having won his fifth term in 2000. He received his undergraduate degree from Princeton University, and a Harvard law degree. Sarbanes is the senior Democrat on the Senate Banking, Housing, and Urban Affairs Committee. Representative Michael Oxley was elected to the Ohio House in 1972 at the age of twenty - eight. Oxley has his undergraduate degree from University of Miami in Oxford, Ohio, and received a law degree from the University of Ohio. He is now the chairman of the House Committee of Financial Affairs. The largest part of the Sarbanes - Oxley Act is not all the sections that it covers in the law, not who signed it, or even authored it; it is how corporations will comply to this extensive piece of legislation. Enron, Tyco, and WorldCom all were under much scrutiny in the last couple of years because of personal loans given to executives for personal use. SOX bans the use of nearly all personal loans. These loans that corporations would give out to their executives were not really loans at all, but large sums of money, not expected to be paid back. Â  

A Multiagency Emergency Response Plan Assignment

A Multiagency Emergency Response Plan - Assignment Example This work presents a multiagency emergency response plan. Also, each agency is given a task according to the area of its specialization. This multiagency response plan to terrorism and natural disasters will make use of the service of local police department, local residents, FBI Counterterrorism Division, fire and rescue, health department, and Federal Emergency Management Agency (FEMA). The last agency to be included is the local area administration. Each of these organizations has an important role to play in this plan. First of all, according to the Federal Emergency Management Agency (FEMA, n.d.), a potential crime scene often contains fire and various other hazards. The same is true about natural disasters too. In such cases, it becomes necessary to utilize the help of trained people. Here, the service of fire and rescue service will be useful. Secondly, in the case of a terrorist threat, entering into the area requires special expertise as the weapons of terror range from explosives, poison, chemicals, radiological dispersal devices, and biological weapons. That means it is necessary to have well-trained people to enter the area. Here, the service of FBI Counterterrorism Division (CTD) will be useful (FBI, n.d.). Another important point is the collection of evidence. As FEMA states, physical evidence is the most solid evidence. In order to collect physical evidence in the most appropriate way, it is again necessary to have the service of FBI-CTD. The third important component is the health department. Any terrorist attack or natural disaster will leave a large number of people wounded. That means it becomes necessary to ensure immediate medical assistance. The inclusion of health department ensures that the injured are properly taken care of in time. This is all the more important in the case of a natural disaster. Another important agency is the local police. According to