The implications of the Sarbanes-Oxley Act on the role and responsibility of Auditor in the detection and prevention of fraud

Abstract

     As a result of financial scandals witnessed by the world's major companies such as Enron and World com as of finance fraud operations, Sarbanes–Oxley Act - 2002 was passed in order to detect and prevent fraud operations and restore confidence in accounting and auditing profession and re-building the confidence of investors in the finance markets and improve the performance of the professionals who are responsible for the protection of investors.

So, this research aimed to identify the requirements of the Sarbanes-Oxley Act and the changes brought about by this law in the role and responsibility of the references to detect and prevent fraud.

    Also, the research methodology has used the descriptive analytical method relying on the relevant scientific resources suchas books and magazines in order to enrich the scientific research and achieve its objectives.

   The research found out many of the results, most notably: that the finance fraud operations are the disposal of illegal and deliberate based on the three conditions of motivation, opportunity and justification, as the study concluded that the Sarbanes-Oxley Act returned to the auditing profession itself through the contents of procedures and controls and sanctions It contributed significantly to reduce finance fraud operations.