Sarbanes-Oxley: An Overview of Current Issues and Concerns

Parles, Lisa McCauley; O'Sullivan, Susan A.; Shannon, John H.
April 2007
Review of Business;Spring/Summer2007, Vol. 27 Issue 3, p38
Academic Journal
In July of 2002, the Public Company Accounting Reform and Investor Protection Act of 2002, [46], popularly known as Sarbanes-Oxley (hereinafter "SOX"), became law. The law, enacted largely in response to the Enron and WorldCom scandals, [43], has been described as the most sweeping and significant change in securities law since the 1930's. Politicians, including President Bush, [80], heralded the law's passage and characterized it as critically needed reform [45]. Business Week, in its periodic review of Congressional activity, applauded SOX as an example of quick Congressional response to the corporate scandals [6]. Since the enactment and implementation of SOX, politicians, academics, business persons and the media have reviewed its impact, costs and effectiveness.


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