From Appendix Table 7, we find the following = 13.816 Therefore, the null hypothesis of no association is very dearly rejected, even at the 0.1% level The cridence against his hypothesis is overwhelming It should be noted. was the case for the goodness of fit tests in earlier sections that the figures used in calculating the statistic must be the actual de observed and not for example, percentages of the total Example 14.7 Sarbanes-Oxley Act of 2002 (Test of Association) Regulatory agencies and the US. Congress are recognizing both the values and emerging is for small firms as the Sarbanes-Oxley Act of 2002 (SOX) is imple mented. On April 23, 2006, the Advisory Committee on Smaller Public Companies nued a final report to the Security and Exchange Commission assessing the im pact of the Sarbanes-Oxley Act of 2002 on smaller public companies (Final Report of the Advisory Committee on Smaller Public Companies to the US Securities and Exchange Commission, April 22, 2006)In Exercise 156 introduced a study that was conducted among a random sample of CROCFOs and board member of cor poration since the implementation of the Sarbanes-Odey Act of 2002 (Michelson, Stryker and Theme 2009). Based on the data contained in Table 14.13, is there an association between the firm's opinion as to the overall impact of Sarbanes-Oxley implementation and there! u27 Table 14.12 Overall impact of SarbanesOxley implementation and we of them LARE 17 13 impad 22