Sarbanes-Oxley was reform legislation designed to reform corporate abuses of the 1990s and early 2000s. The Legislation places new obligations on corporate governance (see p. 577) and on working of the Audit Committee of Boards of Directors. It certainly has curbed the worse abuses of corporate governance, but there are critics who charge that Sarbanes-Oxley has imposed too many burdens and way too many costs. What are the benefits and costs of Sarbanes-Oxley? Should Sarbanes-Oxley be reformed? What provisions would you include in a revised Sarbanes-Oxley?

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The Sarbanes Oxley Act SOX is an act passed by US Congress in 2002 to protect investors from the fraudulent accounting activities by corporations The SOX Act enacts to improve financial disclosures fr... View the full answer