How has the Sarbanes-Oxley SOX Act impacted an organization? Can you give me an example Please. Thanks
Sarbanes Oxley Act of 2002:
If recent corporate scandals have cast a shadow on the reputation of the accounting profession, Sarbanes-Oxley has rattled the industry's cage by calling for reforms in financial reporting, corporate governance and auditing. The effects are far-reaching for all who are involved in and with the accounting profession - accountants in public and private practice, internal and external auditors, students of accounting and accounting educators, among others.
The Sarbanes-Oxley Act was signed into law on 30th July 2002, and introduced highly significant legislative changes to financial practice and corporate governance regulation. It introduced stringent new rules with the stated objective: "to protect investors by improving the accuracy and ...
How has the Sarbanes-Oxley SOX Act impacted an organization?