(1st question) Discuss the impact of Sarbanes-Oxley on a company’s internal controls.

1st question) Discuss the impact of Sarbanes-Oxley on a company’s internal controls. Be sure to define internal controls and discuss the basic principles for assessing internal controls.

(2nd question) The Sarbanes-Oxley Act of 2002 (SOX) was enacted in response to a number of accounting scandals in major corporations that resulted in the loss of billions of investor dollars. Choose one accounting scandal that precipitated this legislation and discuss whether or not internal controls (or lack thereof) contributed to the scandal.

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Instructions:Your initial response should have extensive words. Reply to at least two of your classmates. Replies to classmates should include direct questions.In-text citations and references may be in APA format but is NOT required.

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