Research Paper On The Sarbanes-Oxley Act Of 2002

370 Words2 Pages
The Sarbanes-Oxley Act of 2002, also known as SOX, was enacted in response to several corporate and accounting scandals with the goal of restoring investor confidence in the financial statements of public companies. It is a U.S. federal law covering such issues as auditor independence, corporate governance, evaluation of internal controls and greater financial disclosure. SOX also set new or expanded requirements for the board of all public companies, management or public accounting firms in the U.S. It outlines the obligations of the board of directors for public companies, adds criminal penalties for certain transgressions and required the Securities and Exchange Commission to establish regulations to specify how corporations will conform
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