Thursday, July 17, 2008
In the United States, the 2002 law on accounting reform of listed companies and investor protection is a federal law imposing new rules on accounting and financial transparency. It follows the various financial scandals revealed in the country at the beginning of 2000, including those of Enron and Worldcom. The text is commonly known as Sarbanes-Oxley, named after its sponsors Senators Paul Sarbanes and Mike Oxley. The name can be abbreviated as SOX, Sarbox, or SOA.