What did the Sarbanes-Oxley Act do?
What did the Sarbanes-Oxley Act do? The Sarbanes-Oxley Act of 2002 was passed by Congress in response to widespread corporate fraud and failures. The act implemented new rules for corporations, such as setting new auditor standards to reduce conflicts of interest and transferring responsibility for the complete and accurate handling of financial reports. Why is Sarbanes-Oxley important? The Sarbanes-Oxley act is important because it provides greater oversight for corporations. The act came as a result of several high-profile corporate fraud cases and was designed to deter corporations from committing similar crimes. What are the main provisions of the Sarbanes-Oxley Act?...