Sarbanes Oxley Act - Essay Example porting, whistleblower policy, internal policies on executive loans and compensation and external auditor independence can have a positive impact on the nonprofit entity as it contrives to preserve and, even, enhance the trust and confidence the public and its community have on its nonprofit activities. Small businesses, on the other hand, have pointed out the prohibitive costs of implementing the SOX requirements and that the benefits derived from implementing these requirements are much less than these costs. However, there is also positive impact of SOX requirements on small businesses. Small business owners who adopt the SOX requirements may find their competitive advantage increasing, easier access to new capital or loans, more efficient handling of family-related governance issues and an increased opportunity to deter, discover and deal with fraud.
