Does the Sarbanes Oxley Act really protect? Explain and provide an example.?

Question

Does the Sarbanes Oxley Act really protect? Explain and provide an example.?

Answer 1

It's a self-testing method for Corporations to check and see if they have the right checks and balances system.

Say I have access to send a bank wire.  A test might be to print out everyone that has access.  Now check to see if they absolutely need access or no and are there proper check points in place.

Answer 2

IT creates a system of accountability to ensure truth in reporting of all matters financial. It also requires the CEO to attest that the financial statements are a true representation of the companies financial position.