Regulatory Compliance and Governance. Regulatory Compliance and GovernanceDueÿMAY 29, 5:59 PMNot SubmittedPOINTSÿ5ÿProposalno new messagesObjectives:184.108.40.206.4InstructionsAssignment FilesGradingPurpose of AssignmentCorporate fraud has cost businesses and its shareholders millions of dollars and has been the source of legislation and regulations attempting to provide oversight and guidance to corporate boards, executives, and practitioners. Think about how these laws have changed the practices of corporate executives and, in light of the Enron scandal et al., has it been enough?Assignment StepsResources:ÿLegal Environment of Business: Online Commerce, Business Ethics, and Global Issues: Ch. 16 (pp. 364 -368), 22, and 23.ÿScenario:ÿThe Sarbanes-Oxley Act (SOX) has been in effect since 2002 and has cost businesses millions of dollars in personnel and administrative costs. Your company is in the process of “going public,” has underwritten its Initial Public Offering (IPO), and filed its registration statement with the Securities Exchange Commission. Your current executive team has asked you to create a plan ensuring SOX compliance is followed once you become a publicly traded company.ÿReviewÿthe pertinent sections of The Sarbanes-Oxley Act (SOX) Act.ÿ For purposes of this proposal to the board, only concern yourself with the compliance provisions of SOX (Sections 302, 401, 404, 409, and 802).ÿCreateÿa maximum 1,050-word proposal to the board outling the compliance project necessary to implement SOX.Citeÿa minimum of one reference for the five content areas taken from a business or legal resource. One resource must be from the University Library.Formatÿyour paper consistent with APA guidelines.