Tax and corporate governance PULL UP YOUR SOX Getting to grips with demanding new financial reporting systems brings measurable benefits Following the Enron and WorldCom fiascos, in 2002 the US enacted the Sarbanes-Oxley legislation as a measure aimed at more effective control of corporate governance and financial reporting. This year Sarbanes-Oxley (better known as Sox) is mandatory for a number of US listed companies. As companies deal with the rigours of complying with Sox, what emerges is an indication of just how pervasive the legislation is, and its impact on tax thinking and practice.
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