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The Perceived Effectiveness of the Officer Certification Requirement under Sarbanes‐Oxley

The Perceived Effectiveness of the Officer Certification Requirement under Sarbanes‐Oxley The Sarbanes‐Oxley Act of 2002 brought about sweeping changes that were meant to improve corporate reporting in the United States and to restore investor confidence following some of the largest business failures in US history. This study examines one requirement of this legislation, the certification of the financial statements by the Chief Executive Officer (CEO) and the Chief Financial Officer (CFO) by surveying stakeholder constituent groups to determine whether this new requirement is effective in accomplishing the goals established by Congress and the Securities and Exchange Commission (SEC). This is accomplished by using Cameron's strategic constituencies model to test seven research questions developed from the current literature which provides various points of view regarding the appropriateness of the CEO/CFO certification. Based on the results of these tests, we see that there are significant differences among the perceptions of the constituent groups as to the effectiveness of this requirement. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Auditing Wiley

The Perceived Effectiveness of the Officer Certification Requirement under Sarbanes‐Oxley

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Publisher
Wiley
Copyright
© 2011 Blackwell Publishing Ltd
ISSN
1090-6738
eISSN
1099-1123
DOI
10.1111/j.1099-1123.2011.00428.x
Publisher site
See Article on Publisher Site

Abstract

The Sarbanes‐Oxley Act of 2002 brought about sweeping changes that were meant to improve corporate reporting in the United States and to restore investor confidence following some of the largest business failures in US history. This study examines one requirement of this legislation, the certification of the financial statements by the Chief Executive Officer (CEO) and the Chief Financial Officer (CFO) by surveying stakeholder constituent groups to determine whether this new requirement is effective in accomplishing the goals established by Congress and the Securities and Exchange Commission (SEC). This is accomplished by using Cameron's strategic constituencies model to test seven research questions developed from the current literature which provides various points of view regarding the appropriateness of the CEO/CFO certification. Based on the results of these tests, we see that there are significant differences among the perceptions of the constituent groups as to the effectiveness of this requirement.

Journal

International Journal of AuditingWiley

Published: Jul 1, 2011

References