Question

The Sarbanes-Oxley Act has had all of the following effects on HR EXCEPT

a: True/ False companies have to establish ethics codes: True/ False
b: True/ False HR has had to carry out compliance verification effort involved with the act: True/ False
c: True/ False HR has to develop anti-retaliation policies for employee whistle-blowers: True/ False
d: True/ False HR exempt-level professionals must have professional certification: True/ False

Answer 1

The Sarbanes-Oxley Act has affected HR by requiring the establishment of ethics codes, compliance verification, and the development of anti-retaliation policies for whistle-blowers. It does not, however, require HR exempt-level professionals to have professional certification.

Step-by-step explanation:

The Sarbanes-Oxley Act, enacted in 2002 in response to major accounting scandals such as those involving Enron and WorldCom, aimed to protect investors and restore confidence in financial information from public corporations. As a result, the Act had various implications for Human Resources (HR) within companies.

Effects of the Sarbanes-Oxley Act on HR

1. Establishment of ethics codes: True. Companies need to establish and enforce codes of ethics to prevent fraud and ensure compliance with regulations.
2. HR compliance verification: True. HR departments have been required to verify compliance with the Act, which includes implementing internal controls and managing disclosures.
3. Development of anti-retaliation policies: True. HR must develop policies to protect employee whistle-blowers who report illegal or unethical practices within the company.
4. Professional certification for HR exempt-level professionals: False. While HR professionals are encouraged to seek certifications, the Sarbanes-Oxley Act does not mandate professional certification for HR exempt-level professionals.