Ethics as it pertains to Information Technology Essay

Morals in accordance with Information Technology - Essay Example The points of interest exceed the hindrances; that is likely why people decide to ignore the issues related with data innovation (Henderson, 2005). This paper will look at one moral issue that faces the data innovation field, and if the issue can be amended. All fields, on the planet today, are confronted with difficulties that accompany their domain. These issues emerge because of carelessness, or misbehavior among individuals from the fields in question. Security among numerous PC based data frameworks is faulty, however numerous people think about the field as the fate of the cutting edge world. The world can't figure out how to work in present day time without these frameworks. In the event that there is a disappointment in the controlling frameworks, the world may halt. Notwithstanding, the ongoing instances of instability that emerge from data frameworks have had numerous people question their job in the field of designing (Henderson, 2005). Individuals of specific ages, sex, race, or religion are being focused on, and it is causing turmoil among people. The web makes a road for different exercises to occur. Individuals liable for checking the exercises on the web don't have authority over what happens over the web. It is through this channel numerous people set aside the effort to get some answers concerning others. Protection contracts are being gotten through expert programmers, and the data offered to the most noteworthy bidder. Online predators are among the most perilous people of the mechanical time. They utilize this headway in innovation to guarantee they get some answers concerning individuals they are focusing on. The world needs to confront the way that; everything is innovative (Henderson, 2005). Everything is spared or mechanized to save money on schedule and labor. The issue with this is the utilization of such data to fulfill the necessities of predators. Predators come in numerous structures. People are preying

Essay Examples on Hamlet Essay Example

Article Examples on Hamlet Paper first Essay Sample on Hamlet Lorem Nathaniel nomen meum, et conscience hodie loqui de Satanism, male maxime religionum semper, interpreted from latin one of the dialects generally utilized by Hollywood to delineate Satanists implies Hi my name is Nathaniel, and today I will discuss Satanism, one of the most misconstrued religions everything being equal. At the point when the vast majority consider Satanism they consider Latin talking fiend admirers who penance things from goats to babies. While this may have been genuine two or three hundred years back, it is presently not, at this point that way and the Modern Church of Satanism attempts to ensure that everybody knows that.See, the current Satanic church is to a greater extent a type of Atheism or skepticism. From their own special site, the Modern Satanic Church, says â€Å"The most significant prudence in Satanism is the pleasure throughout everyday life. You are God. This is your reality thus everybody and everything in it has been put here for your own enjoyment.† Anton Szandor LaVey the organizer of the Satanic Church, while regarded by the network his work is regularly observed as bogus. One of the central matters of the congregation is to change the methods of old, they much of the time test their old conventions and ways of thinking, and in the event that it isn't seen as helpful, or doesn’t fill a need, they are tossed out to clear a path for progressively useful lessons. One of the most significant things that the congregation says, is that regardless, A Satanist needs no congregation. They state â€Å"A individual need just pronounce themselves as Satan and endeavor to be a divine being by carrying on with a Satanic way of life. However we should not deny our fundamental nature as a social creature. We will compose a custom paper test on Essay Examples on Hamlet explicitly for you for just $16.38 $13.9/page Request now We will compose a custom article test on Essay Examples on Hamlet explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer We will compose a custom article test on Essay Examples on Hamlet explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer To fulfill this need, the Modern Church of Satan made a network where similarly invested people can assemble. It is fantastically satisfying to be related with other people who hunger for information and achievement, who are constrained to better themselves and who purposely press each second out of life, living every day as though it might be their last. second Essay Sample on Hamlet The most significant line in Hamletis, â€Å"The play’s the thing, wherein I’ll get the heart of the king.† (II, ii, 617).In the play, the issue of a reasonable still, small voice frames a key motif.When the inner voice of the characters shows up, it does as such because of some activity; as on account of the previously mentioned line, which follows Hamlet’s discussion with the player.This line is of specific criticalness since it ties activity and its impact on the soul of the characters.The idea of Hamlet is still, small voice, and activity assumes a significant job in making the advancement of the plot.No where is this improvement seen more clear than with Hamlet.The Prince’s advancement comes because of the self-assessment of the moves that have made spot, and the resulting moves that he makes are an away from of this self-evaluation.So, basically, the activities cause him to think about his still, small voice and afterward follow up on these fe elings.Hamlet’s a few discourses are a demonstration of this method.Hisfirst talk, following a discussion with his as of late marry mother and uncle mirror the disquiet he feels.He feels sold out. â€Å"O, most mischievous speed, to post, with such ability to forbidden sheets. . . be that as it may, make me extremely upset, for I should hold my tounge.† (I, ii, 156-159). Hamlet’s still, small voice mentions to him what's up for this situation, the rushed marriage-yet he is conflicted regarding how to move toward it; before he meets the apparition, quietness is his method.When Hamlet meets his father’s phantom in any case, he feels certain about himself, and comprehends what he should do.As a consequence of the discourse with the phantom, Hamlet’s heart causes him to feel that retribution is the best technique to manage the issues that face him.The still, small voices of Hamlet, and to a lesser degree, Claudius, influence their choices in the play. 3rdEssay Sample on Hamlet Discover me an included Shakespearean understudy that doesn't discover enthusiasm for Hamlet, and I will discover you an individual from Congress who doesn't care for money.It is as straightforward as that. Simply considering the Bards story of trouble and retribution makes the hairs on the scruff of my neck stand up and tingle.Who out there in the advanced world is curious about with the well known line to be, or not to be?I should trust that each secondary school understudy is to some degree learned regarding where that began from.If not, it shows a disappointment on Hamlet.One word that rouses a million feelings and sentiments in anybody that hears it uttered.What English understudy isnt acquainted with this great story of a ruler gone mad?So various parts of todays society can be chosen from this story. Retribution, selling out, distress, madness, desire, insatiability, and depression are just a select few.The part of vengeance is generally apparent in the story, apparently so on the grounds that two youngsters are both on the race to vindicate the passing of their dad. I myself am enamored with Shakespeares works.From Henry V to Much Ado About Nothing, I discover his accounts engaging just as fascinating.I understand that the entirety of his works arent unique, however the manner in which he presents them is simply stunning. His vernacular just as his style envelops the ability to hold the peruser spellbound.I accept that if a lady moved toward me, talking like Ophelia does, I would fall head over heels for her. That is, in the event that she were adequate enough.Come, now†¦Im not shallow, yet I have my Although Hamlet isn't my untouched most loved Shakespearean work, it positions amazingly high on my list.The subjects present in the story are effectively justifiable, just as identified with. Another Essay Sample on Hamlet Hamlet is the tale of a man and his beliefs of the cutting edge world as it was during his time.He was a man of adoration and of war.He had the affection for a reasonable woman, of some glory just as the adoration for a lord and queen.They never brought about an unfavorable end to him till mid way through the play when he submitted murder.His love goes devilishly distraught and gets bolted away.Hamlet lets himself escape in certain scenes, demonstrating he might be frantic himself.A play with a play welcomes new thoughts including dreams just as uniting more secret that even Hamlet himself can stand to control nor handle. Hamlet falls for the love of a woman who has the ideal nobleness of a youthful trying princess.Based in the hours of government and polish, the play assumes it position in the youthful ladys house that is all around worked to be a castle.More ever, the youthful ladys love for Hamlet takes her over to wear she can scarcely deal with his endeavors to have intercourse with her truly just as emotionally.This story makes her fall for him such a great amount to endure the majority of his capacity to be presumptuous just as be mean to her.Something about the respectable Hamlet makes her need to be with him.It might be past the crowd to state what it is about him that makes this so evident. As per Hamlet, during a play that was put on without anyone else and scorned without anyone else, Hamlet reveals some puzzle murdering that makes him to be the beast to uncover such a hunch, that made him an over whelming side show to the crowd that makes the play put on hold.Hamlet was actually some what of a trouble and has convictions that make him a lot to deal with for a large portion of the crowd. As most understandings of the over all play portray him as hogwash, just as an individual of remarkable character.Hamlet was constantly one to be ready of sorts.He remembered himself for pretty much every part of a star character.

To-Do List for Regular Action Applicants

To-Do List for Regular Action Applicants If you are applying to MIT this year, heres an update on what you might want to be thinking about: If you havent yet done so, set up a MyMIT application portal account. Schedule your interview now. The deadline (December 10) to schedule your interview is fast approaching! You can find the contact information for your interviewer (Educational Counselor) on the MyMIT website. [If your interview has been waived, dont worry about it, we understand that we cant be everywhere!] Even if you are applying elsewhere via an early decision or single choice early action program, you should still schedule your interview now, since the interview scheduling deadline falls before most schools notify. Having an interview with MIT does not violate early agreements. If you qualify for a fee waiver, please request one. Requesting a fee waiver does not negatively impact your application. And if you qualify for a fee waiver, your family needs the $65 more than we do. If you are interested in our music community or our arts community, consider sending in some of your work. If you are interested in playing on a varsity sports team at MIT, please contact the appropriate coach or fill out the form. And if youre interested in ROTC, please contact the appropriate branch (Army Navy Air Force). Be sure your standardized test scores have been sent to MIT. Our College Board Code (for SAT and TOEFL) is 3514 and our ACT Code is 1858. And if you havent yet completed your standardized testing (especially SAT Subject Tests), now is a great time to register for the January administration of the tests, which is the last acceptable testing date for MIT. Be sure to designate MIT (3514) as a recipient of the scores. If you havent yet given your teachers their MIT recommendation forms, what are you waiting for? Teachers get very busy this time of year, respect their time! Try to get your application components to us in advance of the January 1 deadline, if you can. It will save you and us some angst in the long run. [For example, submitting your Part 1 now isnt a bad idea] As the year draws to a close, start talking with your parents about financial aid applications. For more information about this, check out the Financial Aid website and also Daniels blog. I hope youre having a great senior year so far!

Racism Is A Major Issue And Problem That Has Plagued The...

Racism is a major issue and problem that has plagued the United States of America for years. Racism has been around in our country since well before the Civil war and even today we still have people who are prejudice towards other races, but discrimination and other major issues had finally become illegal in the end of the 1960’s with the civil rights movement. During the civil rights movement we had many African American leaders and people who were fighting for civil rights within American. One of these specific people is a woman by the name of Anne Moody. Anne Moody is an African American who had done some work for the civil rights movement as a young lady and had wrote a book about her life called Coming of Age in Mississippi. In this book we get to read about her childhood, education, and the days that she spent within the civil rights movement, but the most important thing that we had gotten from this book was her discussion on how racism affected the lives of the black p opulation and the strains it put on their relationships. We will be using Moody’s book to discuss and give examples of how racism had strained or ruined the lives of the African Americans who had been alive during these tragic and scary times. We will also discuss how these strains had been manifested or in other words where they came from as well as how the African Americans coped with racism, fear, and the violence that engulfed the nation during the movement. Racism has impacted millions ofShow MoreRelatedAfrican American Essay912 Words   |  4 PagesThey were not invited here to America, and they certainly did not come here by choice. 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The early 1900’s was a time when African American men and

Neururopsychiatric Disorders Case Study - 1356 Words

Introduction Despite strong progress in our understanding of psychiatric disorders, moving away from psychological theories of unstable ego or bad mothering1 to clear physical pathologies, the exact etiology of psychiatric diseases remains elusive. The advancements in in-vivo brain imaging and micro-array studies in the past decades have revealed much about the macroscopic and microscopic physical alterations that are happening in human patients, and has put forward a new etiological candidate: myelin. Myelin-related diseases and alterations of white matter in neuropsychiatric disorders Numerous MRI studies have revealed specific white matter alterations in almost all neurological disorders including but not limited to ADHD, Major†¦show more content†¦While most animals stop their myelination process after birth, humans undergo complex myelination developments until adulthood10. The constant refinement and recalibration of this process during our adolescence and adulthood is essential in regulating the speed of signal propagation and the synchrony of the network during learning11,12. The complex communication between our brain networks is dependent on synchronous firing, which can be observed through electroencephalography in the form of oscillations13. Irregular oscillatory patterns in multiple psychiatric disorders such as schizophrenia14, bipolar disorder15, autism16 and dementia17 have been observed, which have lead some researchers to define them as diseases of dysconnectivity18,19. This elaborate myelination machinery needed for the creation and maint enance of proper circuit functionality might explain the elevated energy requirements of our brain20. Unsurprisingly, disruption in energy and lipid metabolism can be observed prior to the onset of Alzheimer’s, bipolar disorder and schizophrenia21. Furthermore, studies have shown that myelination slows down during childhood before resuming in late adolescence10, and others have demonstrated that oligodendrocytes developing later in life become more vulnerable22. These two studies corroborate the hypotheses of a meticulous myelin structure role in psychiatric disorders which often presents themselves in late adolescence. White matter alteration in

Pharmacy Leadership Free Essays

Sculpting the Pharmacy Leaders of Tomorrow Introduction Leadership has so much influence in our lives because so often it determines whether we enjoy a particular activity. Life is short – so why participate in an activity if we don’t enjoy it, and if we do participate, why not do so with all of our energy? Therefore, having an understanding of leadership and acknowledging its significance is vital within our day-to-day lives. Leadership can be described by many, â€Å"as the process by which a leader imaginatively directs, guides and influences the work of others in choosing and attaining specified goals by  mediating between the individuals and the organization in such a manner, that both will obtain maximum satisfaction. We will write a custom essay sample on Pharmacy Leadership or any similar topic only for you Order Now †1 Leadership is about building teams and communicating so that everyone works together. The importance of leadership is a key ingredient to all successful businesses and championship teams around the world. Teams that have this synergy tend to thrive and be the ones on top. Thus, leadership is dynamic in all aspects of life. At the forefront of any successful business or team is the leader. A leader is anyone who inspires and influences people to accomplish organizational goals. They motivate others to pursue actions, focus thinking, and shape decisions for the greater good of the organization. A leader is also a knowledgeable and trustworthy individual that communicates effectively and sets an example by living the corporate values everyone is expected to follow. Often times many contemplate whether leaders are born or made. Effective leaders are not simply born or made; yet they are born with some leadership ability and develop it over time. 1 Legendary collegiate football coach Vince Lombardi once said, â€Å"Contrary to the opinion of many people, leaders are not born, leaders are made, and they are made by effort and hard work. †1 Thus, we are all leaders, and all individuals have potential leadership skills, which stresses the importance of leadership development. Anyone can have the fundamental requirements necessary for the leadership role, but it’s how they develop them that matters. Leadership development is defined as an effort to enhance a learner’s ability to lead, an endeavor focused on developing the leadership abilities and attitudes of the individuals sitting at the top of the chain of command. Successful leadership development requires a lot more than the ability to give orders. It also requires diplomacy, top of the line people skills, and a certain level of ruthlessness. Leadership within Pharmacy These leadership attributes and skills pertain to all professions, regardless of the career path chosen for each individual. In the pharmacy profession, transition into a leadership role often happens serendipitously, resulting in what is sometimes referred to as accidental leadership. Today’s pharmacy students receive very little exposure to pharmacy administrative career options and administrative leaders throughout the curriculum. Thus, they are often unaware of many leadership opportunities available to them upon graduation. Furthermore, those who do develop an interest in advanced administrative training often do so after they have already committed to a post-graduate staff position or a clinical training program without an emphasis on administrative practice. By not exposing students to administratively focused career options during their impressionable clerkship years, we are losing many potential future leaders. 5 We need to spark their interest in administrative practice earlier, while they are still in pharmacy school, and introduce them to a career that focuses on leadership and creating innovative pharmacy services and practice models that improve patient care. 5 Pharmacy school provides future health care professionals with the knowledge and skills of pharmaceutical therapies in order to deliver adequate, high-quality patient care to those with health illnesses or diseases. As society becomes more and more saturated with clinical drug experts, there soon will be a higher demand for some of these individuals to lead and operate pharmacy departments. With many students having very little to no experience in leadership or managerial roles, how will these future health care providers of future generations become equipped with the essential leadership skills and attributes to successfully operate a pharmacy? A high-performance pharmacy department is one that aspires to maximize its contributions to the clinical outcomes of patients and financial position of its health system by functioning at the highest levels of effectiveness and efficiency. Achieving a high-performance pharmacy practice requires leaders committed to a clear vision for excellent practice. These pharmacy leaders must continuously enhance their team’s commitment to that vision, using recognized benchmarks of best practice to extend pharmacy’s influence across the continuum of care. Do Residencies Promote Effective Pharmacy Leadership? Within pharmacy curricula, students are required to perform in various academic rotations in order to gain further knowledge of the profession in diverse areas of the field. Upon graduation from a graduate program such as pharmacy school, students also have the option of applying for a residency, or post-graduate training, to enhance their pharmacy learning and provide more ex perience within the profession. According to many, residencies are categorized as clinical and general. Current American Society of Health-System Pharmacists (ASHP) accreditation standards state that the purpose of a post-graduate year 1 (PGY1) residency is â€Å"to accelerate growth beyond entry-level professional competence in patient-centered care and in pharmacy operational services, and to further the development of leadership skills. †2 Therefore, the main purpose of a PGY1 residency is to increase the competency of pharmacists in the clinical environment and that PGY1 training should focus on effectiveness, efficiency, and competence in the clinical environment reinforced by experience in a strong pharmacy operations environment. In the desire to be recognized as a clinical profession, pharmacy-training programs have devoted the vast majority of resources to patient care and clinical activities. This is done at the expense of training practitioners who are not knowledgeable about the operations of a pharmacy department and have difficulty integrating clinical expertise an d patient care with the skills necessary to navigate complex organizations. While operations and management expertise can be obtained through completing a post-graduate year 2 (PGY2) residency in health-system pharmacy administration, many believe the emphasis on the interconnectedness of operational knowledge and clinical practice success should be a solid part of PGY1 residencies. 2 The core experiences required in a PGY1 residency program include acute care, ambulatory care, drug-use policy, and practice management. An evaluation of various training programs revealed that approximately 80% of residency training time is directed toward acute and ambulatory care experiences, with the remaining time divided among orientation, drug-use policy, and administrative experiences. 2 Ironically, in an era of a leadership crisis within the pharmacy profession, the primary individuals responsible for the training and nurturing of young leaders are preceptors with expertise in clinical specialties that do not always have an understanding of the importance of the infrastructure that supports their work. The profession has made significant progress in training highly skilled, knowledgeable patient care specialists, some of whom now direct residency programs and profoundly influence training. While this is exemplary practice, it is also essential that the new generation of drug-specialists be familiar with the operational aspects of a pharmacy department (e. g. , be able to create a budgetary impact proposal to justify an anticoagulation clinic or defend the purchase of smart pumps for a health system for safer delivery of I. V. medications). While completion of a PGY1 residency by itself cannot create a well-rounded, clinically competent practitioner who is well versed in organizational abilities, it is noted that residency training is the ideal starting point to establish the concept. 2 Residents are the future of the pharmacy profession, and it is imperative that they recognize, have experience in, and respect the critical role and linkages of the clinical pharmacy expert to pharma cy management and to the health system. 2 What Are the Essential Skills of a Pharmacy Leader? In December 2004, an article was published in American Journal Of Health-System Pharmacy by five authors who had over 140 combined years of experience in health-system pharmacy leadership positions. 4 Two of the five authors were past pharmacy directors at University of Wisconsin Hospital and Clinics (UWHC), where the combined master of science (M. S. ) in hospital pharmacy and administrative residency program was started. These experienced administrative leaders described the leadership skills they believed were ssential for a high performance pharmacy practice, noting that there was documented synergy between great leadership and high-performance pharmacy practice. The skills described included the following:4 * Creation of a vision that is adopted by all department personnel * Core personal values that extend to an individual’s professional life * Ability to develop relationships across the organization * Lifelong learning * Develop spheres of influence across the organizat ion * Ability to take risks and be an opportunist Transferring knowledge across the department and the hospital * Successful work–life balance * Succession planning Specifically for patients, they also believed that pharmacy leaders and managers should hire the best pharmacists possible, provide the best tools for pharmacists to do their work (e. g. , automation, information resources), have adequate pharmacy staff, and ensure a culture of medication safety. 4 All of these leadership skills and attributes are thus part of the manager and residency training program at UWHC. I believe that similar skills and goals should also be applied to pharmacy student rotations, and therefore students must be provided options for selecting clerkship rotations specialized in health-system pharmacy administration. Even if those who participate in such clerkship experiences decide to pursue a clinical rather than administrative career path, they will be more effective clinicians as a result of their broadened view of the profession and their understanding of the challenges of pharmacy management. They will no longer be the clinical practitioner telling our future students that administration is unrewarding â€Å"busy work. Practitioners will be more able and willing to articulate the impact pharmacy administrators can have on advancing pharmacist-led patient services and will discuss this career option with students in a more favorable light. Expanding the availability of administrative clerkships is a win–win proposition for students and the profession. 5 Deli vering Leadership Skills Via Dual-Degree Programs An additional opportunity for pharmacy students to acquire fundamental leadership skills and attributes is in the pursuit of an advanced degree in business. Many pharmacy schools across the nation, including Sullivan University College of Pharmacy (SUCOP), are implementing dual degrees for those ambitious students that seek these administrative positions within the pharmacy profession. The dual PharmD/MBA degree will provide students with clinical health care expertise along with a business background and skills that are necessary to enter managerial positions within pharmacy. University of Arizona College of Pharmacy PharmD/MBA student Elizabeth Munch states â€Å"business pervades every facet of health care, now more than ever. And an understanding of the business aspects of pharmacy is crucial no matter which aspect of pharmacy is considered. Business training will only serve to increase the competence and effectiveness of today’s health care providers. †6 These intensive dual-degree programs provide students a way to hone problem-solving, leadership, and communication skills while engaging with students and mentors in other disciplines. Pharmacy schools that offer these programs do so to â€Å"prepare graduates for alternative non-academic pharmacy careers† as leaders in for-profit, nonprofit, and government health organizations. In particular, a leader within the pharmacy profession needs pharmacy-specific knowledge and skills for ensuring consistency and credibility within and outside the department, recruiting and retaining the right team members, establishing the pharmacy team’s value beyond a traditional role, becoming a more influential player within the health system, ide ntifying challenges as opportunities, creating passion for change, and thoughtfully making difficult decisions. Having better pharmacy leaders results in better patient care, improved medication safety, and enhanced pharmacy productivity, all of which usually lead to better medication use within health systems. Conclusion It is critical that today’s leaders take steps to ensure that pharmacy maintains a strong pool of managers to continue the important work of guiding the profession. Starting an administrative clerkship rotation is an easy way to expose students to the rewards of leadership and the satisfaction of teaching and mentoring. Pharmacists are becoming increasingly involved in managing patients with chronic conditions, while also collaborating more with physicians and other health care providers in a multidisciplinary team. Therefore, balance and retention of important skills that enable and leverage these new opportunities are what we need. We must also encourage residency program directors and preceptors to convey the importance of and provide excellent training in clinical care and disease management, as well as operations infrastructure, logistics, and leadership. References 1. Lussier, R. N. , Achua, C. F. (2007). Leadership: theory, application, skill development (3rd ed. ). Mason, Ohio: Thomson/SouthWestern. 2. Ivey, M. , Farber, M. (2011). Pharmacy residency training and pharmacy leadership: an important relationship. American Journal Of Health-System Pharmacy, 68(1), 73-76. doi:10. 2146/ajhp100051 3. Thielke, T. (2010). Synergistic relationship between pharmacy leadership development and pharmacy service innovation. American Journal Of Health-System Pharmacy, 67(10), 815-820. doi:10. 2146/ajhp090445 4. Zilz, D. , Woodward, B. , Thielke, T. , Shane, R. , Scott, B. (2004). Leadership skills for a high-performance pharmacy practice. American Journal Of Health-System Pharmacy, 61(23), 2562-2574. 5. Knoer, S. , Rough, S. , Gouveia, W. (2005). Student rotations in health-system pharmacy management and leadership. American Journal Of Health-System Pharmacy, 62(23), 2539-2541. oi:10. 2146/ajhp050226 6. Enderle, L. (2011). Dual degrees: full speed ahead. Pharmacy Times. Retrieved from http://www. pharmacytimes. com/publications/career/2011/PharmacyCareers_Fall2011/Dual-Degrees-Full-Speed-Ahead 7. Johnson, T. J. , Teeters, J. L. (2011). Pharmacy residency and the medical training model: Is pharmacy at a tipping point?. American Journal Of Health-System Pharmacy, 68(16), 1542-1549. doi:10. 2146/ajhp100483 How to cite Pharmacy Leadership, Essay examples

Relevance of the Sarbanes-Oxley Act of 2002 to the Madoff Scandal Essay Example

Relevance of the Sarbanes-Oxley Act of 2002 to the Madoff Scandal Essay The investment scandal perpetrated by Bernard Madoff is the largest financial fraud in the history of capitalism. It is believed that Madoff’s secretive investment advice firm caused a loss of nearly $65 billions for the 4,000 odd investors who trusted his firm with their wealth. The investors consisted of several celebrities as well as people from middle and lower classes, thereby making the loss more acute for the latter group. This essay will explore the relevance of the Sarbanes-Oxley Act of 2002 to the Madoff Scandal. The Securities and Exchange Commission (SEC), which is an agency of the Federal government that is entrusted with the task of regulating the financial markets is one of the chief culprits behind this failure. The SEC had brushed aside several warning signals in the years leading up to 2008, either due to the incompetency of their auditing staff or due to collusion with the fraudsters. Ever since Madoff started his ponzi investment scheme two decades ago, there have been independent reports that questioned the sustained high earnings of Madoff’s investments, in spite of the market downturn. It was only in 2008 that the truth about the firm’s fabricated accounting practices came to light, following which Bernard Madoff was duly tried and convicted for 150 years in prison. (Long, 2009) We will write a custom essay sample on Relevance of the Sarbanes-Oxley Act of 2002 to the Madoff Scandal specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Relevance of the Sarbanes-Oxley Act of 2002 to the Madoff Scandal specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Relevance of the Sarbanes-Oxley Act of 2002 to the Madoff Scandal specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Unfortunately, for many investors, the conviction is not an adequate compensation for the amount of wealth they lost. Seen in this context, the enactment of the Sarbanes-Oxley Act in the year 2002 was long overdue. The act attempts to tighten accounting and audit procedures by making business corporations in America comply with higher standards of accountability. Studied in retrospect, the Madoff scandal could have been thwarted at an initial stage if the firm had complied with the regulations mandated by the Sarbanes-Oxley Act. For example, â€Å"Section 404 of the Sarbanes-Oxley Act requires each issuer’s annual report to include an internal control report which shall †¦ contain an assessment, as of the end of the most recent fiscal year of the issuer, of the effectiveness of the internal control structure and procedures of the issuer for financial reporting. In addition, section 404 requires each issuer’s auditor to attest to and report on management’s internal control assessment†. (Coustan, 2004) When the Sarbanes-Oxley bill was initially proposed, it set out to address the loopholes then present in the corporate governance laws. While the whole of Sarbanes-Oxley Act includes many clauses and subclauses, its essence is to make accounting practices in the USA more ethical. The only drawback of such an elaborate reworking of corporate governance laws is the additional cost involved. It is a matter of speculation if the Madoff scandal could have been prevented had Sarbanes-Oxley been implemented earlier than 2002. But there is no doubting the fact that the accounting misrepresentations carried out by Bernard Madoff and his cohorts were in breach of Sarbanes-Oxley regulations, both in letter and in spirit. (Kohn, 2004) For example, Madoff’s ponzi investment scheme showed investors double digit annual returns on their investments, when in truth the money went straight to Madoff’s business bank account with Chase Manhattan Bank. Whenever an investor would request a redemption, Madoff’s firm would pay using funds from new investors, the excess being sent straight to the Chase Manhattan account. The trouble started when this vicious spiral of new infusions and redemptions went out of control. The savings and retirement pensions of many investors were lost in this artificial investment scam, reiterating the fact that regulatory overhauls such as Sarbanes-Oxley are highly relevant to the prevention of such scandals in the future. (Parles et. al., 2007) It should also be mentioned that the provisions under Sarbanes-Oxley are not universally welcome by accountants and managers. While some of the measures were inevitable, they also impose additional encumbrances on the business corporations. For example, a systematic study of managers’ opinions elicited mixed reactions. â€Å"The interviewees unanimously agreed the legislation has many good aspects. Specifically mentioned as a good idea was the part of section 302 requiring top management to certify it had reviewed each quarterly and annual report. Furthermore, requiring management to certify that the financial statements–and other financial information included in the reports fairly present the issuer’s financial condition, as well as the results of operations, will force management to become more engaged in the financial reporting process.† (Moberly, 2007) While there are more plusses than minuses, it would be premature to conclude that Sarbanes-Oxley has achieved its stated purpose. One should not expect the Act to be a panacea for improving financial reporting. It would be unreasonable to expect that fraud would be eliminated from Corporate America. Only in another five years’ time would researchers have enough time and data to perform longitudinal studies of the legislation’s effectiveness. The act can been deemed a success even if it reduces the magnitude of corporate crime (Green, 2005). In other words, making Corporate America crime free would be a Utopian dream; but frauds such as Enron and Lehman Brothers could be identified and thwarted at an earlier stage with greator vigilance from the regulators. References: Anatomy of a Credit Crisis. (2009). Australian Journal of Management, 34(1), i+. Coustan, H., Leinicke, L. M., Rexroad, W. M., Ostrosky, J. A. (2004). Sarbanes-Oxley: What It Means to the Marketplace; from Support to Apprehension, Accounting Professionals Express Their Thoughts. Journal of Accountancy, 197(2), 43+. Culp, C. L. Niskanen, W. A. (Eds.). (2003). Corporate Aftershock: The Public Policy Lessons from the Collapse of Enron and Other Major Corporations. Hoboken, NJ: Wiley. Ex-Madoff Executive Pleads Guilty to Fraud. (2009, August 12). Daily Herald (Arlington Heights, IL), p. 2. Green, S. (2005, March). The Limitations of the Sarbanes-Oxley Act. USA Today (Society for the Advancement of Education), 133, 66+. HE STOLE FROM THE RICH, THEPOOR THEINBETWEEN; Madoff’s Victims Hit out as the Conman Is Given 150-Year Prison Sentence. (2009, June 30). Daily Record (Glasgow, Scotland), p. 9. Kohn, S. M., Kohn, M. D., Colapinto, D. K. (2004). Whistleblower Law: A Guide to Legal Protections for Corporate Employees. Westport, CT: Praeger. Lander, G. P. (2004). What Is Sarbanes-Oxley?. New York: McGraw-Hill. Long, R. (2009, July 20). From the Desk of Bernard Madoff. National Review, 61, 41. Longnecker, B. M. (2004, May). The Sarbanes-Oxley Act: Altering the Fabric of American Business. USA Today (Society for the Advancement of Education), 132, 28+. Moberly, R. E. (2007). Unfulfilled Expectations: An Empirical Analysis of Why Sarbanes-Oxley Whistleblowers Rarely Win. William and Mary Law Review, 49(1), 65+. More Arrests on Way over Madoff Scandal. (2009, June 30). The Evening Standard (London, England), p. 33. Parles, L. M., O’Sullivan, S. A., Shannon, J. H. (2007). Sarbanes-Oxley: An Overview of Current Issues and Concerns. Review of Business, 27(3), 38+. Romano, R. (2005). The Sarbanes-Oxley Act and the Making of Quack Corporate Governance. Yale Law Journal, 114(7), 1521+. SEC Chief Outlines Plan to Build Investor Confidence. (2009, July 15). The Washington Times (Washington, DC), p. A12. Smith, R. C., Walter, I. (2006). Governing the Modern Corporation: Capital Markets, Corporate Control and Economic Performance. New York: Oxford University Press.