The Sarbanes-Oxley Act (also known as the “SOX” Act) was a bill that was passed in 2002 as a result of the political and economic scandals that gripped Enron, Worldcom, and a number of other important firms (Congress.gov). It was discovered that these firms were reporting false or inaccurate numbers to the federal government. When this was revealed, the companies collapsed, and many people lost a lot of money as a result. The SOX Act was designed to protect shareholders and other individuals with stake in companies—as well as the general public and the economy as a whole— Continue reading...
