Sarbanes-Oxley Act of 2002 (SOX) into law, stating the legislation would be “The most far reaching reforms of American business practices since the time of Franklin Delano Roosevelt,” (Process, 2012). The Act was designed to mandate many reforms in order to require greater corporate responsibility, disclosure, transparency, and to combat against accounting fraud. In response to several corporate and accounting scandals happening at that time, such as Enron, WorldCom, and Peregrine Systems, which cost investors…
Words 2815 - Pages 12