Twenty years ago, in the aftermath of the Enron and WorldCom financial reporting scandals, Congress acted and created the Sarbanes-Oxley Act of 2002 (SOX). The legislation led to significant changes in how companies designed and monitored internal controls and how their auditors evaluated them.
Leaders of regulatory agencies commemorated the anniversary of SOX (July 30) and reminded companies and auditors of the continued importance of investors having trust in financial statements and public markets.
