If you are a company with connections to the US, you might be required to know about the Sarbanes Oxley act. If you are a American company and have never have heard of the act, then you have already learnt something new. It’s a law in the US.
The Sarbanes Oxley is an act that was signed into US in 2002. The act was designed to try and stop companies doing what Enron and Worldcom did. Both of these companies were found to have been running on fraud for many years. At that current time, the companies weren’t required to show their records to the US government.
What the act does is it ensures that how businesses are run is legitimate and if they are not, it holds the key players responsible for the problems.
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