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The Sarbanes-Oxley Act is a product of a series of scandals that took place around the turn of the millennium.  Has Sarbanes-Oxley really done anything to curb fraud?  How does Sarbanes Oxley Act affect U.S. companies as they compete globally?  Please respond to the following: Separate accounting standards exist for the U.S. federal government in contrast to state and local governments; discuss why this is necessary.

The Sarbanes-Oxley Act is a product of a series of scandals that took place around the turn of the millennium.  Has Sarbanes-Oxley really done anything to curb fraud?  How does Sarbanes Oxley Act affect U.S. companies as they compete globally?  Please respond to the following: Separate accounting standards exist for the U.S. federal government in contrast to state and local governments; discuss why this is necessary.

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