The War On Drugs And Its Effects On Children, Families And...

The War on Drugs has led to an increase in the mass incarceration of people of color and minorities, which is a problem in the United States. In the past thirty years, the number of females jailed across the country, many of whom are poor with mental health and drug problems. The increase in the incarceration of females has had a devastating impact on their children, families and communities. This paper will describe the authors of Upper Bunkies Unit and Orange Is the New Black who wrote their respective books about the same prison, the Federal Correctional Institution in Danbury, Connecticut, a low-security female prison. Both books contain many themes, such as broken families, limited services available and substance abuse treatment. This paper will also explore many factors influencing the success or failure of incarcerated females in reintegrating after their release from prison. Literature will be used to provide insight into the lives of females behind bars by focusing on their well-being and resources available. In addition, the current trend in treatment, such as substance abuse and mental health treatments will be discussed. Lastly, collateral consequences will be explored. The Life of Females Behind Bars: Direct Impact of the War on Drugs The war on drugs has led to the increase of mass incarceration of people of color and minorities, which is a problem in the United States. The United States is known for holding more children and adults in jails, andShow MoreRelatedThe War On Drugs And Mass Incarceration Essay1439 Words   |  6 PagesIntroduction The War on Drugs and Mass Incarceration have been two very well-known topics of society. While these have taken place during the Cold War, there is still a continuance in them today. The impact that has been left on society from these issues have stuck around, while mass incarceration is still of talk today. War on Drugs The War on Drugs not only has many acts that have been in place due to it, but there has been a domino effect with other topics. The War on Drugs has become a complicatedRead MoreAmericas War on Drugs - The Prison Industrial Complex Essay911 Words   |  4 Pagesthe documentary: Americas War on Drugs - The Prison Industrial Complex, it is clear that the Criminal Justice System is in desperate need of reconstruction and repair with policies such as the mandatory minimum sentencing act which has proven to be unsuccessful and unjust in its efforts to deter criminals from committing illegal acts as seen with the increase of incarcerations of the American people and the devastating effect it has had on those in prison and the family members of those incarceratedRead MoreThe Secret Identity Of Batman863 Words   |  4 Pagescomes to our minds when we hear this name. The Bruce Wayne that I think of grew up in Erie, Pennsylvania, one of the poorest cities in the nation. At sixteen years o ld he was arrested and convicted for selling drugs, despite the prosecutors’ inability to prove that he was in possession of drugs, with intent to sell, during the time of his arrest. Twenty-two years later, in 2014, Bruce Wayne was finally released from prison. He was incarcerated during the years that usually sculpt constituents into goodRead MoreRacial Disparity in Prisons Essay examples1456 Words   |  6 Pages2/22/11 Racial inequality in the American criminal justice system  has a strong effect of many realms of society such as the family life, and employment. Education and race seem to be the most decisive factors when deciding who goes to jail and what  age cohort  has the greatest percentage chance of incarceration. Going to prison no longer affects just the individual who committed the crime. Instead, the family and community left behind gain a new burden by one individuals actions. The United StatesRead MoreEssay on Meth Use: A Nation in Crisis1468 Words   |  6 Pagesstimulant, known as Meth. Meth is a highly addictive drug that is, and a hard to kick. Meth is a huge money making business so the marketing of the drug is not only targeted to adults, but the younger generation as well. Despite the effort with the war on drugs, Law Enforcement is facing a tough battle of controlling the clandestine meth labs, and meth brought to the United States from Mexico. Meth not only hurts the user, but families, and communities as well. Education and awareness to the publicRead MoreThe Impact Of Military Service Members Ptsd1720 Words   |  7 Pagesnormally deployed to wars during the war time or deployed to complex rescue missions whenever needed. This is in the belief that military personnel are the most robust trained personnel who can handle the toughest situations and conditions in life. However, for everything there exists a limit. This is because military personnel are normal human beings. They have humanity in them and military work is just a career. Consequently, they are affected by what they go through and their families too are affectedRead MoreArgumentative Essay On Child Soldiers1461 Words   |  6 Pageslack of consideration for their wellbeing. The punishments inflicted on the children are similar or worse than the ones inflicted on their adult counterparts which imposes damage that is more destructive to a child than to an adult (Sierra Leoneâ€℠¢s Former Child Soldiers). Additionally, the Revolutionary United Front used drugs and alcohol in order to control children and increase their intensity and because of this, many children quickly became addicts. A former child soldier, Ishamael Beah spoke of hisRead MoreThe War On Drugs : American Foreign And Domestic Policy1676 Words   |  7 PagesUnited States has focused its efforts on the criminalization of drug use. In June 1971, President Nixon declared a â€Å"war on drugs.† He dramatically increased the size and presence of federal drug control agencies, and pushed through measures such as mandatory sentencing and no-knock warrants. . The War on Drugs has been a centerpiece of American foreign and domestic policy. The rhetoric of war shaped the impact of methods. Not only does war require military strategies, but an enemy as well. In this caseRead MoreThe War On Drugs Policy1723 Words   |  7 Pagesfrom friends and family or seeing it for myself. I can remember be ing told at the age of 10 that my favorite uncle, Tio Chico, was somewhere else and I might not see him for a long time. My ten-year-old self couldn’t understand why; I knew Tio Chico wasn’t a bad guy. He loved me so much and would protect his little mama, that’s me, from anything and anyone. It was later that I learned that he was getting into the wrong crowd and was starting to become involved with low level drugs. It was throughRead MoreDrugs And Its Effects On Society932 Words   |  4 PagesDrug use in America has affected society as a whole since the 1970’s, when drugs such as cocaine and other narcotics became relatively easy for user to purchase in amount unheard of prior. No matter what the choice of drug a user is addicted to, the effects of drug abuse has the same outcome; to include addiction, depression, and criminal activity which affects everybody in society from small children to an adults. Kids today are subject to be exposed to illicit drugs any day of the week. Whether

Impact Of Online Shopping On Businesses - 1439 Words

This report examines a major issue that applies in Australian workforces. The issue is the impact of online shopping and what effects it has on businesses. According to Australian Bureau of Statistics, 43% of Australians use the internet to buy products and services . This states that the internet is changing consumer shopping habits fast, and most likely, forever. As reported by the National Retail Association, 50,000 people will lose their jobs due to internet shopping . These statistics will significantly affect the work place with people losing their jobs which can be blamed for the popularity of online shopping. This brings rise to other concerns which should be considered including advantages and disadvantages of online shopping, the legislation regulating its use and the economic, ethical and environmental impacts associated with online shopping. Introduction: The issue chosen that is experiencing a strong growth amongst Australian consumers and businesses is online shopping. Online retailing is becoming extremely popular as consumers integrate online purchasing into their everyday shopping experience . For businesses, online shopping is a great advantage as it widens their customer base, leaving to an increase in sales . However, online shopping can affect small business as there are many disadvantages which can affect its operations such as fraud, security concerns and privacy issues. History: Online shopping is still a current issue in today’sShow MoreRelatedEssay on E-Shopping837 Words   |  4 Pages E-Shopping Online shopping has impacted the economic, political and cultural development of the financial markets and the economy. Many consumers have been using the World Wide Web in order to purchase items. The computer technology has allowed consumers to use the internet to their convenience to shop. Online shopping has impacted the United States economy greatly. The impacts of online shopping have been advantageous as well as disadvantageous. The beneficial impacts of online shopping areRead MoreIs Online Shopping Our Future? Essay782 Words   |  4 PagesIs Online Shopping our Future? With increasing technology, the future of retailing will be shopping online finding the best deals to purchase or ordering direct from places like QVC while enjoying the comfort of your own home. Fewer trips will be made to malls because of the busy lives consumers lead. The majority of consumers already have a vested interest in the internet, which is utilized for researching everything concerning decision making. A lot of decisions will be made based on socialRead MoreElectronic Commerce ( Ec )1031 Words   |  5 Pagespurchase products online. Online buying is the process of selling and buying goods or services by using computer via internet. Since the development of www (World Wide Web), vendors have looked for a way to sell their goods and products to people who like to spend time on the internet. Shoppers can visit web stores from their houses and shop while they are sitting in front of their computer or laptop. Internet and online shopping has the ability to provide a lot of types of businesses with the abilityRead MoreOnline Shopping Is Invented By Michael Aldrich1500 Words   |  6 PagesOnline shopping was invented by Michael Aldrich in the U.K. in 1979 using the technology called Videotext. It was an interactive information system that connected a modified domestic TV to a real-time transaction processing computer via a domestic telephone line (Aldrich, 2011). In 1990, Tim Berners-Lee created the world-wide web server and browser in the U.K. to complement the online technology and thus, unlocked the Internetâ€⠄¢s potential (Jarvenpaa and Todd, 1997; Aldrich, 2011). Hence today, onlineRead MoreBackground. Today, People Are Engaging In E-Commerce More1742 Words   |  7 Pagesshopped exclusively in local businesses and specialty mom and pop stores. These stores are essentially smaller, independently owned and operated businesses that have little influence on the market. Small businesses occupy several areas of business including retail, services, wholesaling and manufacturing. The growing acceptance of the Internet and e-commerce in the early 1990’s changed the way people shopped, shifting consumer preference from traditional to online shopping. With the introduction ofRead MoreA Report Advising Isherwood s Car Company1500 Words   |  6 PagesIsherwood’s car company and suggest any impact or a threat to their business. In this report I will be explaining a brief of future technology such as web and mobile that will change future businesses over the next five years. This re port included information of future technology and the impact of businesses in the next five years. Future technologies and the impact on the business Future Technology In the future, advances technology will change everyday life and businesses beyond recognition. Looking aheadRead MoreThe Relationship Between Brands And Consumers On Consumer Behavior1705 Words   |  7 Pagesthe market environment and the impact the Internet has on consumer behaviour. The Internet is an extremely efficient medium for accessing and communicating information. Marketing on the Internet has been widely developed over the past decade, especially within the use of social media. Businesses see social media as an advantage when it comes to building relations with customers, as well as increasing customer retention levels. It is an informal way for businesses to reach their consumer basesRead MoreE Commerce Is The Backbone Of Modern Global Markets861 Words   |  4 PagesINTRODUCTION E Commerce has changed the economy of the world since the first ‘online shopping’ system called Videotex was created in 1979 by Michael Aldrich using a 26† domestic TV (Aldricharchive.com, 2015). It has even shaped society itself, changing people’s shopping habits and how the entire landscape of business operates. E-commerce is the backbone of modern global markets from business to business (B2B) companies such as IBM and Microsoft with a total brand value bordering on $200,000M (McGrealRead MoreThe Generation Born From In 2000S And Onwards, Will Know1745 Words   |  7 Pagesthat will be soon known as shopping in a store. Many people can still recall their childhood memories of going to the grocery store with their parents and being excited of seeing all the colorful products that children love, such as candy, cereal and other snack foods. Thanks to the advent of the world wide web and technology increasing exponentially, online shopping has grown significan tly over the past few years. According to research in 2007, â€Å"online grocery shopping was available in over 1600Read MoreEssay on The Internet and the Power of E-Commerce1373 Words   |  6 PagesThe Power of E-Commerce The Industrial Revolution changed the face of the business world. In much the same way the Internet Revolution has changed the business world; its impact has ricocheted to every corner of the world. The internet revolution gave birth to an electronic economy. Ecommerce has seen tremendous growth in the last years, its effects are countless. Ecommerce has allowed for the expansion and proliferation of a globalized economy, it has made transactions easier and more efficient

Erwin Rommel Essay Example For Students

Erwin Rommel Essay ERWIN ROMMELErwin Rommel Jr. was born on November 15, 1891 in Swabian. His father Erwin Rommel Sr., was a schoolmaster in Heidenheim in Wurttemberg , and Rommels mother was Helene von Luz was a daughter of the local Regierungs-President. As a child, he was even tempered and was unremarkable academically and athletically. After high school, Rommel Jr. was thinking of applying to the Zeppelin works at Friederichshafen, but his father, an ex-artillery officer, advised him to go to the army instead. In July, 1910, Rommel became a cadet with the 124th Wurttemberg Infantry Regiment in the 26th Infantry Division of the German Imperial Infantry. He served as cadet in the Army until March 1911. Then he attended the prestigious military academy Konigliche Kriegsschule in Danzig and he left the academy in November of 1911. During Rommels stay he also met the love of his life, Lucy Mollin, whom he would write to everyday during both World Wars, he raised to Lieutenant: Corporal in October and Se rgeant at the end of the year. Rommel first showed his courage and intellect during World War 1 when a group of 15 to 20 French soldiers were spotted by him and his reconnaissance of three other men. Rommel opened fire and dropped 10 members of the group with regular rifles. His second encounter was 800 yards northeast of Bleid, at freshly dug French trenches. He charged and repulsed all French with only few parts of his regiment, Then Rommel with two other men drove off a whole French column. After this, Rommel passed out from lack of sleep. When he awakened, a confused firefight had begun. He immediately rallied his men and repulsed the French attack. The battle of Longwy resulted in a loss of 15% of Rommels men and 25% of his officers. After the battle, medical doctors informed Rommel that he was suffering from food poisoning, but Rommel would not leave the field. In his first action as Battalion Adjutant, Rommel and a group of 13 men repulsed a charge of 2 French companies and d ropped 30 French, capturing 12. Then on September 9, his outfit was ordered to begin digging trenches. On September 10, they were ordered to charge. Rommel lost 4 officers and 40 men dead, and 160 men wounded, and 8 missing. On September 22, Rommel was again ordered to attack, but this time he consulted his commander with better plans. The result was 50 Frenchmen, 7 machine guns, 10 Ammunition limbers, and a full kitchen captured, with only 4 killed and 11 wounded. Then Rommel reorganized another confused company, and started to return to his own unit. On the way, 5 French soldiers appeared ahead of him. Rommel opened fire and dropped two of them, only to run out of ammunition. Rommel quickly fixed his bayonet and charged only to be wounded with a fist sized exit wound and to be rewarded with an Iron Cross and Second Class for bravery. Also before World War 1 ended Rommel received a Pour le Merite. Rommels son, Manfred was born in December 1928, on Christmas Eve. In September 1934, Rommel first met Hitler. Rommel was devoted to Hitler because of Hitlers acceptance of the army over the SA. Rommel thought Hitler was a good man, and he was swept up in the patriotic pride that now ran rampant throughout Germany. Hitler was just as impressed with Rommel, and Rommels character soon gained him the position of Major-General of Hitlers Special Guard, a very prestigious honor. Soon Rommel and Hitler became close friends. Hitler consulted with Rommel on where he would like to go from there. Rommel told him he would like to lead an armored division. In early February, 1940, Rommel was appointed to command the 7th Panzer Division, now stationed at Godesberg in the west and soon deployed in the nearby valley of the Ahr. He took leave of Hitler and was given an inscribed copy of Mein Kampf as a present. On May 10, 1940, the beginning elements of Rommels 7th Panzer Division began their advance. When Rommel came to the Maginot Line, he came up with an idea. Instead of blowing up or dealing with every fortification in his way, he ordered his tanks to race at full speed past the fortifications while firing at anything that looked hostile. The French were surprised, most of them simply surrendered to the rear guards that came up. On February 6, 1941, Rommel was summoned to Berlin. There he was alerted of the Italians hopeless situation by the armys Commander-in-Chief, Field Marshal von Brauchitsch. They had lost an entire army of ten divisions in North Africa, were checked completely in Greece, on the run in Eritrea, Somaliland, Abyssinia, Libya, and all of North Africa. Hitler had personally selected Rommel to take two divisions-one Panzer (15th Panzer Division), which did not arrive until May, and one light, the 5th Light (totally mechanized but no tanks) division- to help the Italians hold North Africa. On March 24, 1941, Rommel ordered the 3rd Recon Battalion to attack El Agheila. The attack went unmolested, and the airfield and water supply of El Aghei la soon fell in Rommels hands. On March 31st, the 5th Light Division advanced on Mersa El Brega. The immediate response was stubborn, but after a north flanking movement by Rommel and his machine gun battalion, the defile fell and a good many vehicles were captured with it. Air recon showed that the British were retreating. On the April 14th, Rommel sent the Italian General Streich on an attack against Tobruk, and General Streich timidly attacked. Casualties amounted soon due to bombardment, anti-tank fire, and infantry volleys. Field Marshal von Paulus, later to lose an entire Army at Stalingrad, watched the next assault on Tobruk on April 30th. The attack came from the West instead of the South and yielded Ras el Madamer and a good deal of casualties. Despite the gain of Ras el Madamer, von Paulus returned to Berlin and gave a damaging report to OKH headquarters. Meanwhile, the ULTRA decoded German messages had given the British information that the 15th Panzer Div. had not arrive d yet and Rommel had been ordered to advance no further. This meant that the time to attack was now, before the tanks arrived. On May 15th, the long awaited British counter-attack began. The first move was by the 7th Armored and 22nd Guards Brigades. Ironically, that morning Rommel had sent forward all thirteen 88 millimeter anti-tank guns and a good deal of mechanized troops. Thus, when the British attacked, the presence of the longer ranging 88s gave them the impression that the information was false and that the 15th Panzer had indeed arrived. The British consequently withdrew, and actually withdrew passed the easily defendable Halfaya Pass that they had gained through heavy costs. At the beginning of 1942, Britain had 150 tanks. Rommel had 117 German tanks and 79 Italian models. .u0f6241ace2d3abb465d10beedc659cf3 , .u0f6241ace2d3abb465d10beedc659cf3 .postImageUrl , .u0f6241ace2d3abb465d10beedc659cf3 .centered-text-area { min-height: 80px; position: relative; } .u0f6241ace2d3abb465d10beedc659cf3 , .u0f6241ace2d3abb465d10beedc659cf3:hover , .u0f6241ace2d3abb465d10beedc659cf3:visited , .u0f6241ace2d3abb465d10beedc659cf3:active { border:0!important; } .u0f6241ace2d3abb465d10beedc659cf3 .clearfix:after { content: ""; display: table; clear: both; } .u0f6241ace2d3abb465d10beedc659cf3 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u0f6241ace2d3abb465d10beedc659cf3:active , .u0f6241ace2d3abb465d10beedc659cf3:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u0f6241ace2d3abb465d10beedc659cf3 .centered-text-area { width: 100%; position: relative ; } .u0f6241ace2d3abb465d10beedc659cf3 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u0f6241ace2d3abb465d10beedc659cf3 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u0f6241ace2d3abb465d10beedc659cf3 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u0f6241ace2d3abb465d10beedc659cf3:hover .ctaButton { background-color: #34495E!important; } .u0f6241ace2d3abb465d10beedc659cf3 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u0f6241ace2d3abb465d10beedc659cf3 .u0f6241ace2d3abb465d10beedc659cf3-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u0f6241ace2d3abb465d10beedc659cf3:after { content: ""; display: block; clear: both; } READ: Nine Guardians Essay He now turned his eyes once more on Tobruk, a strategic port of the Mediterranean. His main tank force of 560 tanks would flank south while a diversionary infantry force under Cruewell attacked along the North and center. The British had 167 of the new American Grant tanks equipped with a 75 mm guns the hardest hitting gun of any desert tank, and counting these tanks, the British now had 850 tanks. Rommel did have superiority in both airplane numbers and quality. On June 20th, the apple of Rommels eye was finally in reach. That day he watched the first Stuka bombing of Tobruk at 6:00 a.m. At 7:00 a.m., the infantry entered the town from the Southeast while the artillery and tanks rained down shells from high ground. By 6:00 p.m., 21st Panzer Division was inside of the town. At 6:00 a.m. on June 21st, 32,000 men fell into Rommels hands along with the vital port of Tobruk. Later that day, Rommel was promoted to Field Marshal. As Germans celebrated on the victory the Allies regrouped. The British fought back. The British attack was sounded by a heavy barrage of 456 artillery pieces, and headed by 1000 British and American tanks. The British attacked northward on October 29th and overran elements of the 164th German Division and an Italian Bersaglieri battalion. Another extensive barrage heralded the event and the aerial bombardment went on nonstop. Rommel began plans for withdrawal, even though this would be very costly if the enemy commander was aggressive. When Rommel receives a radio message from Hitler to keep fighting, Rommel felt be trade from Hitler and Rommel disobey and retreated. As Rommel was recovering from his injuries the assassination famous plot to kill Hitler was launched. After the plot crumbled, under torture, one of the conspirators mentioned Rommels name, implicating him in the plot. As friends and fellow officers were arrested as conspirators, Rommel realized the end was near. On October 14th, 1944, two generals came to Rommels house and gav e him an ultimatum. Either takes his own life and be buried with full honors or stand trial and put the future of his wife and son in jeopardy. Rommel said good-bye to his family, went with the two men, and swallowed poison. He was buried with full honors.

Sarbanes

Introduction: The Sarbanes- Oxley Act 2002 The Sarbanes- Oxley Act 2002 is one of the federal laws in the United States of America that were established with a major objective of protecting investors by improving accuracy and dependability of the so-disclosed corporate information. All boards of directors in public companies, public management, and accounting companies have to comply with the Act with regard to laws of security.Advertising We will write a custom research paper sample on Sarbanes-Oxley Act of 2002/Methods of Depreciation specifically for you for only $16.05 $11/page Learn More The Act was named after Senator Paul Sarbanes and Michael Oxley who were representatives in the lower house in the United States. Also referred to as Sarbox, the Act was passed on 30 July 2002. With its enactment, all managers of public corporations were charged with the responsibility of personally certifying the validity of any financial information to be reported (Surowiecki, 2005, p.46). The act also set very severe penalties for organization management that contravened it. In addition, the Sarbanes –Oxley Act of 2002 made it a requirement for all public corporations to ensure that independent external auditors audit their financial accounts. These auditors enable firms to have a clearer picture about the correctness of their statement of accounts (Baker Taylor, 2000 p.1). The report also recommended that managers and board of directors in public corporate organizations had to play an oversight role. Key Components of Sarbanes-Oxley Act of 2002 The key components of Sarbanes-Oxley Act 2012 include several titles with the first being the Public Company Accounting Oversight Board (PCAOB), which is regarded as title 1 with the key responsibility of acting as a watchdog to all the accounting firms set up for the public. The title performs auditing duties. Title 1 is also the branch of Sarbanes-Oxley act that registers auditors before t hey can perform public and private auditing duties in the country. It is bestowed the authority of identifying special procedures that audits must conform to when examining auditing works. It is also supposed to perform quality assurance and policy control functions (Surowiecki, 2007, p.29) of auditing in the federation. With the implementation of title1, the United States is assured of uniformity in business standards. With such similarities, the member states can therefore trade at equal levels and be able to use similar and related business documents with ease hence promoting the level of interactivity in the auditing fraternity. Finally, the title also ensures that all public auditing firms in the federation are compliant to the directives of Sarbanes-Oxley Act 2002. It is charged with the authority to guarantee the federation that the recommendations of SOX are implemented with by every auditing firm.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The next component of Sarbanes-Oxley Act 2002 is auditor independence. This component is commonly referred to as title II. The title contains details of how auditors are supposed to work independently without influence from external forces. According to this component, auditors should avoid carrying out duties in areas or field that they are likely to have conflicts of interest (Baker Taylor, 2000, p.1). Title II acts as a barrier to conflicts of interest in duties performed by auditing firms in the whole federation. Conflicts of interest result in biasness. Therefore, the quality of auditing is compromised. The title also ensures that auditing professionalism is portrayed in all auditing works in the United States. It is therefore the mandate of title II to address the issue of admitting new auditors into the auditing profession. In such processes, all requirements should be verified in order to ensure that professionalism is upheld (Surowiecki, 2005, p.46). The component spells out the relationships that should exist between different auditors and or how they should collaborate in ensuring success of auditing as a profession. Such collaboration includes rotation of audit partners in a bid to ensure quality standards in auditing. This constituent also monitors auditing firms to ensure that they purely conduct auditing duties. Regulations of this nature bar the auditing firms from offering other related services to clients of auditing (Baker Taylor, 2000, p.1) implying that auditing firms are restricted from undertaking services like accounting consultancy and business advisory among others. The third component is corporate responsibility otherwise referred to as title III. The recommendation of this component is that auditing officers must take individual responsibility for their actions. Auditing officers should ensure the accuracy of all financial documents and reports. The componen t also recommends that auditors must take responsibility for the level of completeness depicted in their financial reports. This element spells out how internal auditors and auditing committees in various corporations should relate with external auditors. From such interactions, the level of accuracy in auditing reports is boosted. Title III ensures compliance with SOX. It goes beyond enumerating the standards to be complied with to listing of the penalties for forfeiture. According to Kuschnik (2008, p.92), section 302 of title III dictates that the chief executive officer and other executive officers must verify and consent to the level of reliability in their financial reports.Advertising We will write a custom research paper sample on Sarbanes-Oxley Act of 2002/Methods of Depreciation specifically for you for only $16.05 $11/page Learn More The fourth component is enhanced financial disclosure. This component states the requirements for financial re porting. The fifth component is the analyst conflicts of interest referred to as title V that aims at ensuring that investors have confidence in security analysts’ reports. The sixth component is the commission resources and authority. The component is regarded as title VI. It indicates the actions that corporations should take to ensure that investors are confident about the reporting done by security analysts. The seventh component is studies and reports. It is also called title VII. From this component, the comptroller general is supposed to research on the quality of auditing to make a report on it. The eighth component of SOX is corporate and criminal fraud accountability. It is also referred to as title VII or corporate and criminal fraud accountability Act 2002. Under this title, various penalties on auditing offenses are spelt out for example on fraud and report alteration. The ninth component is the white-collar crime penalty enhancement also called title IX or White Collar Penalty Enhancement Act of 2002. The tenth component is Corporate Tax returns, which is also regarded as title X that stipulates that the Chief Executive Officer of corporations has to append his or her signature on reports of tax returns (Surowiecki, 2005, p.46). The eleventh component is corporate fraud accountability also referred to as Title XI. This title categorizes fraud and tempering of records as criminal offenses. Objective of Sarbanes-Oxley Act 2002 The objective of Sarbanes-Oxley Act 2002 is to ensure investor confidence in public corporations in the United States of America. The Act targeted public corporations, public accounting organizations, and their management. The act also aims at ensuring that auditors perform their duties accurately, professionally, and independently. The Act also spells out the punishment for contravening auditing standards. In doing so, investor confidence is boosted and auditing uniformity is guaranteed in the United States. Criticism Although many people have attributed SOX with the high auditing standards in the United States, various critics discredit the Act. One of the criticisms of the act is that it is an indulgence into the management of companies by the government. Critics citing this loophole argue that it puts investors in the United States at a disadvantage point when trading with foreign companies. This hitch has made the United States lose business. In fact, various companies have deregistered from the stock exchange of the United States. Other critics have blamed the Sarbanes-Oxley Act as the reason for having minimal initial public offers in 2008. The critics therefore link SOX with the 2007 economic recession in the United States (Gore, 2010, p.714). The other criticism of Sarbanes-Oxley Ac of 2002 is that the laws have not been able to prevent fraud.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The Wall street journal of December 21 2008 criticized SOX for not being able to implement its farness plan meaning that it had totally failed to achieve its major objectives. The Wall Street also criticized it for disabling young public corporations. According to this journal, the Sarbanes-Oxley Act 2002 was responsible for the destruction of the entrepreneurship spirit that existed in the United States of America before its inception. It goes further to criticize SOX for the weakening of the stock exchange business in the whole federation (Strout, 2006, p.9). For example, in 2008, only six corporations became public meaning that companies in the United States fear turning public due to the stiff regulations posed by Sarbanes-Oxley Act of 2008. The Sarbanes-Oxley Act of 2002 is also criticized for the high unemployment rate in the United States of America. This high rate of unemployment is attributed the increased fear by many investors to invest in the United States. Investors als o fear turning their companies from private to public due to the tight regulations set for all public corporations by the Sarbanes-Oxley Act of 2002. As the number of employers decrease, the number of jobs for the employees decreases. Others have attributed the location of the world top security market in Hong Kong and not in the New York City as it had been before the inception of SOX (Gore 2010, p.715). The tight regulation set by Sarbanes-Oxley Act of 2002 has made many capital investors to turn to other economies thus avoiding the United States economy. Economic Consequences of Sarbanes-Oxley Act There are various economic consequences of the Sarbanes-Oxley Act of 2002 on the economy of the United States. The first consequence is that, with the implementation of SOX, most investors have avoided the United States as a place to invest their capital as indicated by the low levels of companies that have turned public since its inception. For example, in 2001, only 87 companies turne d for initial public offer (IPO). The turnout was a very low ranking compared to the period when Sarbanes-Oxley Act was enacted. For example, in 2004, about 233 companies listed for IPO while there were more than 205 companies turning public in 2006. The other consequence of Sarbanes-Oxley Act 2002 is that it has resulted in the decline of capital market in the United States because most investors have turned to other economies like those of London and Hong Kong in a bid to avoid the tight regulations set by SOX. The argument indicates that more and more wealth has been shifted to other economies (Strout, 2006, p.9). It is also worth noting that the Sarbanes-Oxley act was blamed for the economic depression that has affected the United States since 2007 (Gore, 2010, p.714). The attribution is that, since SOX has resulted in few investors being interested with investing in the United States of America, there has been an increase in unemployment in the US. With the increased unemployme nt, the purchasing power of the United States of America has gone down. The other consequence of Sarbanes-Oxley act is that it has led to a reduced number of companies listing for Initial Public Offer (IPO) in the United States because most of the corporations are small corporations that fear turning public. This fear is attributed to the high level of regulations that came with the Sarbanes-Oxley Act of 2002. The auditing procedures set for public corporations through this act are prohibitive for small investors. Investors from foreign corporations are also shying away from investing in the American economy. Instead of investing in the United States of America, they will invest in the United Kingdom and other economies. On the other hand, there are positive consequences of the Sarbanes-Oxley Act of 2002. The first positive consequence is that it has enabled shareholders of various corporations to become the owners of such companies. This advantage changed the old trend when manager s almost worked as the only legal owners of public corporations. Instead, managers work for the shareholders in public corporations in America today. Managers of public corporations have therefore become administrators of shareholders’ resources (Crook, 2006, p.150). The other positive consequence is that the Sarbanes-Oxley Act of 2002 has boosted the confidence of investors in public corporations. This case has been made possible by creation of trust through auditing procedures. The financial reporting procedures have been made more transparent and accurate (Surowiecki, 2007, p.29) acting as a major building block for investor confidence. The fact that auditors and corporate managers are required to take personal responsibility for their reports makes the management of public corporations more transparent to the public (Crook, 2006, p.150). Managers have also become keen, professional in their way of administration, and reporting. It is also worth noting that the financial r eporting procedures that have been put in place by Sarbanes-Oxley Act of 2002 are among the legal requirements for every public corporation. The procedures for financial reporting enabled many corporations to produce accurate financial reports. The Sarbanes-Oxley Act of 2002 has also enabled the United States to discover some fraudulent companies. For example, the fraud that was unveiled from Value Line company in 2009 saved the country about 24 million dollars hence standing out as an upward trend in combating fraud as crime. The whole of this process was made possible by the standards set in the Sarbanes Oxley Act of 2002. Conclusion: Achievement of Sarbanes-Oxley Act goals The Sarbanes-Oxley Act has been able to achieve some of its goals because the Act aimed at increasing investor confidence in the United States. Today, most of the investors in public companies in the US have confidence in these corporations due to the increased transparency in financial reporting (Surowiecki, 2 005, p.46). The second aim that this Act had was to reduce fraud. The Act has been able to achieve this goal because it has already unearthed several fraudulent corporations thereby saving the economy huge sums of money. The Act aimed at restoring ethical standards in the United States’ business world. Managers and executive managers have to comply with auditing standards in administration, communication, and communication (Crook, 2006, p.150). Reference List Baker, L., Taylor, G. (2000). Author Biographies, Anthony Tarantino, PhD. Six Sigma Black Belt, Certified Sarbanes-Oxley Professional, 1(3), 1-1. Crook, C. (2006). Atlantic Monthly. Executive Privilege, 297(1), 150-153. Gore, C. (2010). The global recession of 2009 in a long-term development perspective’, Journal of International Development, 22(6), 714-38. Kuschnik, B. (2008). The Sarbanes Oxley Act: Big Brother is watching† you or Adequate Measures of Corporate Governance Regulation? Rutgers Business Law Journal, 5(1), 64–95. Strout, C., Fisher, S., Kneale, D. (2006). New Yorker. The Mail, 81(44), 9-9. Surowiecki, J. (2005). New Yorker. Sarboxed In?, 81(40), 46-46. Surowiecki, J. (2007). New Yorker. Over There, 82(48), 29-29. This research paper on Sarbanes-Oxley Act of 2002/Methods of Depreciation was written and submitted by user Princeton M. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here. Sarbanes Introduction The Sarbanes-Oxley Act of 2002 was enacted into law in 2002 to respond to the various financial scandals that were taking place in the for-profit corporate sector of the United States. The act was meant to address the abuse of finances and accounting standards by companies such as Adelphia, Enron and WorldCom where the executives of these companies defrauded their shareholders, their employees and the US economy of billions of dollars. Once it was enacted, SOX was meant to introduce major changes to the corporate governance and financial management of capital in many corporations within America.Advertising We will write a custom essay sample on Sarbanes-Oxley Act specifically for you for only $16.05 $11/page Learn More The Sarbanes-Oxley Act or the SOX act of 2002 was developed by Senator Paul Sarbanes and House Representative Michael Oxley and it contains eleven sections which outline the responsibilities of chief executive officers as well as financial controllers in managing the finances of a company (Morgan et al, 2008). Examination of the SOX Act of 2002 Under the Sarbanes-Oxley Act of 2002, companies that are publicly traded in the US are required to increase their internal financial and accounting controls after personal clarification with the chief executive and chief financial officers of the company. This is meant to strengthen the auditing, accounting and financial practices of the company. The act also requires for-profit corporations in the country to increase their external controls through enhancing the duties and responsibilities of the audit committee. The act also states that chief financial controllers and auditors need to provide supporting evidence that will be used to whistleblow on the abuse of company funds (Morgan et al, 2008). The SOX bill does not apply to privately held companies as many of the laws deal with the management of shareholder, corporate and public funds which are usually common in publicly traded companies. The new and enhanced standards within the SOX Act deal with additional responsibilities for the corporate board and chief executive officers of most organizations as well as the introduction of criminal penalties for managers caught defrauding corporations of public funds. Other enhanced standards within the act include auditor independence, enhanced financial disclosures, conflicts of interest and corporate fraud accountability. All these aspects are included within the eleven sections of the act where they analyse the specific mandates and requirements that managers need to have when conducting financial reporting (Kuschnik, 2008). Each of these sub sections are important and necessary in the financial management of publicly traded corporation as they ensure that there is accountability during the management of financial funds.Advertising Looking for essay on business corporate law? Let's see if we can help you! Get your first paper with 15% OFF Learn More For example auditor independence which falls under the second title deals with limiting the conflicts of interest that arise during audit reporting while corporate fraud accountability which falls under the eleventh title of the act deals with the identification of corporate fraud and the various penalties that are served to deal with fraud. This section also revises the sentencing guidelines that were in existence before to deal with people who defrauded companies of billions of dollars. This review was seen to be important as it would enable the Securities and Exchange Commission (SEC) to temporarily freeze any transactions or payments that were deemed to be unusual for the company (Kuschnik, 2008). In general, the act deals with ensuring the financial reports generated by auditors and finance managers within organization to develop internal control reports that can be used to determine the accuracy of the company’s financial data. The adoption of the S OX act is meant to establish a best-practice standard when it comes to the management of corporate funds. The act also changes how corporate management boards and executives interact with each other as well as with their corporate auditors and financial controllers. It also ensures that the top managers of a corporate organization are held accountable for the accuracy of financial statements released at the end of every company financial year (Litvak, 2007). Benefits and Costs of the Sarbanes-Oxley Act According to Bednanrz (2006), the costs of implementing the SOX act will exceed the benefits of the act when it is fully implemented. A survey conducted on the compliance costs of the act in various publicly traded corporations within the US revealed that the first year compliance costs would exceed $4.6 million dollars. This figure applied to all the large multinational and domestic companies in the US. Medium sized companies and smaller companies operating within the US were likely to incur significant additional costs that were projected to amount to $2 million during the first-year compliance with the SOX guidelines. These huge costs incurred during the first year would make it difficult to determine whether the Sarbanes-Oxley Act was actually working in managing corporate finances and auditing issues (Bernanrz, 2006).Advertising We will write a custom essay sample on Sarbanes-Oxley Act specifically for you for only $16.05 $11/page Learn More With regards to the benefits of the act, various financial analysts and experts noted that the borrowing costs were lower for companies that had improved their internal control measures while corporate transparency had improved within many publicly traded organizations during the first year of compliance. Section 404 of the act ensured that companies had conservative reported earnings where financial reports and statements underwent verification to determine their accuracy before being pres ented to the various stakeholders of the company. Companies that had strong internal controls were able to experience an increase in their share prices and their financial statements were more reliable (Morgan et al, 2008). Reactions of Company Executives and Changes to Accounting Practices While many legislators have praised the Sarbanes-Oxley act to be effective in dealing with financial fraud within corporations, many business managers have expressed frustration with the act. The Federal Regulation Board has been faced with a lot of complaints about the high costs that are needed to implement the act in major public corporations within the country. Executives from General Electric, Lockheed Martin and Emerson Electric were among those who spoke about the various challenges of complying with the SOX act two years after it was implemented (Bednanrz, 2006). The executives agreed that while it was too soon to determine the benefits of complying with the act, there were considerable c osts such as audit fees which were expected to increase by approximately 40% during the first year of compliance. Business managers working for BP saw the duplicate testing of internal controls to dilute the business practices of the organization as they saw it to be a frustrating exercise. They instead preferred to perform a single internal control testing exercise which would enable them to identify and document any financial issues or problems (Bednanrz, 2006). References Bednanrz, A., (2006, May 11). Executives tell regulators Sarbanes-Oxley costs exceed benefits. Retrieved from:  https://www.networkworld.com/article/2311689/execs-tell-regulators-sarbanes-oxley-costs-exceed-benefits.htmlAdvertising Looking for essay on business corporate law? Let's see if we can help you! Get your first paper with 15% OFF Learn More Kuschnik, B., (2008). The Sarbanes-Oxley Act: big brother is watching you or adequate measures of corporate governance regulation. Rutgers Business Law Journal, 64-95 Litvak, K., (2007). The effect of the Sarbanes-Oxley Act on non-US companies cross-listed in the US. Journal of Corporate Finance, 13(55), 195-228 Morgan, D.F., Green, R., Shinn, C.W., Robinson, K.S., (2008). Foundations of public service. New York: M.E. Sharpe Incorporated This essay on Sarbanes-Oxley Act was written and submitted by user Kolton Sharp to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.