OVERALL COURSEWORK 1
During this course, I learned many captivating lessons. However, theSabarnes-Oxley Act (SOX) interested me the most. I was surprised tolearn that the name of the Act was derived from the names ofCongressmen Paul Sabarnes and Michael Oxley. Several facts capturedmy attention. For example, the Act was formed in 2002 to limit theincidence of fraudulent practices and accounting errors (Ferrell,Fraedrich, & Ferrell, 2015). Consequently, shareholders and otherusers of financial statements would obtain a realistic evaluation ofthe company. I was also enlightened to learn that the Act was enactedupon financial scandals in corporations such as Tyco, WorldCom, andEnron (Ferrell, Fraedrich, & Ferrell, 2015). Subsequently, allpublic enterprises have had to comply with the stipulations of SOX.Rather than dictate how a firm ought to store electronic records, theAct determines the particular information that must be saved for agiven period. Furthermore, I learned that penalties in the form offines or incarceration were issued in case records were falsified,altered, or destroyed.
In a decade’s time, the focus of this course will be on privacy andtechnology. The proliferation and advancement of technologicalplatforms threaten privacy. Consequently, confidential details suchas online habits, medical records, trade secrets, and preciselocation risk being exposed (Kéfi, 2015). In this regard, severalethical issues will need to be addressed. For instance, it may bechallenging to ascertain which categories of personal informationcould be gathered and stored. An individual has the right to be freefrom intrusion. However, lawmakers emphasize the necessity oftracking the communication and movements of suspected criminals toprevent terrorist attacks (Kéfi, 2015). On the other hand, sometechnological applications can enhance privacy. For example, someforms of software allow Internet users to browse and communicateanonymously (Kéfi, 2015). Moreover, data encryption techniques areused to safeguard information from unscrupulous parties (Kéfi,2015). Therefore, the tradeoff between privacy and technology canonly intensify in the next ten years.
Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2015). Businessethics: Ethical decision making and cases. Stamford, CT: CengageLearning.
Kéfi, H. (2015). Information technology ethics: Concepts andpractices in the digital world. Newcastle upon Tyne, UK:Cambridge Scholars Publishing.