Who would have thought the scandals at major corporations like Enron and WorldCom would be a boon for owners of some businesses? But that is just what has happened.
Sanjay Anand began the Sarbanes-Oxley Institute to train corporate workers to follow the new accounting rules in the Sarbanes-Oxley Act.
New regulations that sprang from systematic fraud at those two corporations have created a cottage industry of businesses that provide consulting, accounting, computer security and other services to help companies cope with the Sarbanes-Oxley Act of 2002. That law was passed in an effort to clean up corporate accounting.
Sarbanes-Oxley, nicknamed SOX in the financial world, requires corporate managers to evaluate internal financial controls, hire outside accountants to review those controls annually, make more information available to the public and to follow procedures to stifle fraud.
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