Risk Management-Sarbanes-Oxley Act

consider the responsibilities imposed on senior executives by the Sarbanes-Oxley Act. In addition to certifying the accuracy of the financial statements filed with the SEC, executives are responsible for assessing and articulating their internal control procedures for ensuring the accuracy of the documents filed with the Securities and Exchange Commission(SEC).

in one paragraph, convey your thoughts on the following:

• The      significance of senior executives certifying that all documents filed with      the SEC are accurate and thorough
• The      impact of senior leadership describing their methods for ensuring that      their financial statements are accurate
• The      impact on the investment community if this act were eradication

2nd paragraph- offer a different viewpoint regarding Sarbanes-Oxley Act's impact on corporate senior leadership; particularly the impact on the investment community if the act was repealed.