January 21, 2009
Sarbanes Oxley is a Big Deal
I’m not sure if you were one of the investors (or even worse, one of the employees) of Enron, or Tyco, or WorldCom, when their respective scandals rocked the corporate world back in the late 1990s or early 2000s. But if you were, you understand the importance of sarbanes oxley. Often referred to now as SARBOX or SOX, this act of legislation (passed with an overwhelming majority in July, 2002), was designed to hold all publicly-traded companies and organizations doing business in the United States, responsible and accountable for all financial reporting. Third-party audit boards are also hired to verify all financial processes as well. In short, SOX is a big deal and needs to be respected as such.
