Sarbanes-Oxley Act Stirs International Implications
IN REVIEW 2002, PART 4
The Public Company Accounting Reform and Investor Protection Act, more commonly known as the Sarbanes-Oxley Act, or SOX-named after its co-sponsors, Senator Paul Sarbanes and Representative Michael Oxley-came into being in the wake of a series of gigantic corporate fraud scandals. The Act was aimed at preventing the types of corporate abuses associated with firms such as Enron, WorldCom and Tyco International, and restoring public confidence in financial accounting.
In 11 sections, SOX set out
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