Compare Rule 101of the Sarbanes-Oxley Act (SOX, 2002) and Standard Essay

Compare Rule 101of the Sarbanes-Oxley Act (SOX, 2002) and Standard 1100-Independence and Objectivity - Essay Exampleembers to puddle such independence, so that they can monitor the interpretivities of the organization as per the scope of canvass and not be restricted for the same in any stylus. Auditors are also required to remain objective towards the manner in which the audit processes are carried out. This includes them to be highly professional and not indulge in the ontogenesis of personal relations. Internal auditors must diligently maintain the quality of their work by remaining simple and impartial with any aspect of the organization. Objectivity also requires mangers to maintain the confidentiality of the audit associate matters (Muqattash, 2013).The Sarbanes-Oxley Act contains a number of provisions which impact the key elements of capital formation and audit. For auditors the Sarbanes-Oxley Act has established a rewrite set of rules which provides auditors with a ne w structure of private oversight and a revised set of rules related to independence and public reporting. In case of managers, the act provides adequate scope of safeguarding interests and reporting and exposure of informal control. The disclosure requirements have also been revised for managers. The act also lays emphasis on the ever expanding berth of audit committees in respect of corporate reporting framework. The act also states that auditors have a invest responsibility towards supervising the external audit process. It also establishes revised rules in respect of the preapproval of all audit and non-audit services. Financial expertise, independence and monitoring are also covered under different titles of the act. It is expected that the act will improve the manner in which audits are performed and improve financial disclosure, thereby preventing accounting fraud. ane of the most important rules established under the section is that which is in respect of auditor independ ence. Various sections in respect of auditor services and rotation have also been discussed vividly. The rules established under the title