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In which year was the Sarbanes Oxley Act passed?
The legislation came into force in 2002 and introduced major changes to the regulation of financial practice and corporate governance. Named after Senator Paul Sarbanes and Representative Michael Oxley, who were its main architect
An over-arching public company accounting board was also established by the act, which was introduced amidst a host of publicity.
The act was passed in 2002
In 2002, in reaction to a number of corporate frauds, Congress passed the Sarbanes-Oxley Act authorizing the creation of the Public Company Accounting Oversight Board (PCAOB) to oversee the accounting profession.
