On July 30, 2002, the United States Senate enacted Public Law 107-204 by an overwhelming majority. This Act, entitled “Sarbanes-Oxley Act of 2002” and henceforth referred to in this text as SOX was subsequently signed into law by then president George W. Bush. SOX amended existing U.S. Code, the federal law of the United States of America. SOX's primary intent, “to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and for other purposes”, exemplifies effective regulation (Sarbanes-Oxley Act of 2002).