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Internal Controls are extremely important with any accountingsystem, especially a computerized system. It is a huge part ofcreating and maintaining an accurate set of accounting records. I’msure you all have heard of The Enron, WorldCom, Global Crossings,Tyco or Arthur Anderson scandals. These scandals cost theirstockholders billions of dollars. Any company that trades stockpublicly is required to file their financial statements and otherimportant financial information with the SEC (The SecuritiesExchange Commission). Obviously, false information was filed fromthese companies and as a result, The Sarbanes Oxley Act of 2002 waspassed into law.Describe this act?Discuss what it means for stockholders?Explain the ramifications for accountants?Provide some ethical solutions that would prevent employees fromputting companies in this type of situation.