Views of Corporate Governance regulation are different per jurisdiction or state. These boundaries are govern by federal laws and SEC regulations. SEC developed extensive corporate governances such as SOX to regulate and create rules for a company to adhere to.

Stocks exchanges is a lucrative business therefore financial rules must be followed to establish fairness and in financial statement reporting that shareholders and stakeholders rely on to make investment decisions. Since the inception of SOX corporate governance laws has succeeded in bolstering companies internal controls for financial reporting. Executive compensation, excessive pay, backdating stocks, clawbacks, loyalty, good faith, business judgement rule, and the relationship between the audit committee, internal auditors and external auditors all play a major role on company outcomes therefore this issues must be monitored. As accounting professionals we have a duty to report fraud. Whistleblowing is a personal choice, and the rights and duties of workers are at stake because each employee is held responsible for the information that they have authority over. There is an obligation to report fraud, waste and the misuse.

Answer 1 or both of the following for discussion purposes.

What is the link between the internal controls environment and accountability.

Just because a person has a right to blow the whistle, does that mean she or he has a duty to blow the whistle, How might we make that determination?