Sarbanes-Oxley Act on Internal Control
The Sarbanes-Oxley Act was enacted in July 2002 and was known as the Public Company Accounting Reform and Investors Protection Act. It is commonly referred to as SOX or Sarbox and it was a reaction to some major scandals in the corporate and accounting fields. The scandals are known to affect the Tyco International, Enron, Peregrine Systems, Adelphia and WorldCom. These scandals are known to cost investors large sums of money especially when the share prices of the companies that are affected...
