How did the sarbanes-oxley act impact corporations financial reports?

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Finance

How did the sarbanes-oxley act impact corporations financialreports?

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The SarbanesOxlet act SOX was primarily enacted following the Enron and other scandals It basically sought to remove the compliance and audit gaps that may lead to the same kind or scandals in future This is considering the fact that these scandals lead to losses worth trillion dollars to the investors and the general public and hurts the image of corporates and government identically The SOX was enacted for US corporations and sought to tighten accounting financial reporting and audit practices to strengthen the basic foundations that may lead to humongous consequences However the basic difference was that this act only was implemented to the corporations and management alike The following were the major points which impacted corporations financial reports in a way that set a benchmark for all future compliances Public Company Accounting Oversight Board PCAOB See Answer

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