1. In the aftermath of a series of high-profile business scandals, efforts were made to enhance corporate governance and risk management with the establishment of new regulations. The Sarbanes-Oxley...

1. In the aftermath of a series of high-profile business scandals, efforts were made to enhance corporate governance and risk management with the establishment of new regulations. The Sarbanes-Oxley Act of 2002 and the establishment of PCAOB address the essential issues on IT control framework, internal control reporting and auditor’s role in this respect. Discuss this topic along with how the proposed measures could be effective in bringing confidence to capital market economies.