Question

What was the Sarbanes Oxley (SOX) Act created to address

Answer 1

The Sarbanes-Oxley Act (SOX) was created to address corporate fraud and improve financial transparency and accountability in publicly traded companies. It was enacted in 2002 in response to a series of high-profile corporate scandals, such as Enron and WorldCom, that shook investors' confidence in the financial markets. SOX establishes requirements for financial reporting, internal controls, and corporate governance to prevent fraudulent activities and protect investors.