SARBANES OXLEY ACT OF 2002

Sarbanes Oxley Act of 2002

Sarbanes Oxley Act of 2002

Introduction

Sarbanes Oxley Act of 2002 was marked by the Arthur Andersen accounting scandal and the collapse of Enron and WorldCom. Corporate reforms were demanded by the government, the investors and the American public to prevent similar future occurrences. Viewed to be largely a result of failed or poor governance, insufficient disclosure practices, and a lack of satisfactory internal controls, in 2002 George W. Bush signed into law the Sarbanes-Oxley Act that became effective on July 30, 2002. Congress was seeking to set standards and guarantee the accuracy ...