Subject Business Management Information Systems (MIS)

Question

(a) What was the cause of the public IT policy called the Sarbanes Oxley Act. Google it and write a summary of the policy
(b) What is Basel II? What is its policy mandate and how is it related to IT?

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1) Sarbanes Oxley Act was the logical response given by the federal authorities to corporate accounting scandals and frauds that took place within 2000-2002 (e.g. Enron, WorldCom). The declared purpose of this act was to “protect investors by improving the accuracy and reliability of corporate disclosure made pursuant to the security laws and for other purposes” (Congress, 2002). In summary, Sarbanes-Oxley Act brought changes in various fields like financial practice, corporate governance, management, information security and auditing. The sections with the greatest impact on these areas were summarized below...

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