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NewJeffCT

(56,848 posts)

2. It was enacted post Enron

Reply to MineralMan (Original post)

Tue Apr 4, 2017, 10:31 AM

Apr 2017

to ensure that senior management was accountable for any fraud/illegal activity within the company on their watch. When Enron happened, the senior execs (Ken Lay, etc) blamed low and middle management for all the fraudulent activity and said they knew nothing about it and just signed the documents trusting those below them were honest.

Sarbanes-Oxley (SOX) was enacted to ensure that executives were responsible for any documents/reports/statements that went outside the company and were signed by them.

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Does Sarbanes-Oxley sound familiar to anyone? [View all] MineralMan Apr 2017 OP

I encounter it frequently working in IT 3_Limes Apr 2017 #1

It was enacted post Enron NewJeffCT Apr 2017 #2

2008 Legacy democratisphere Apr 2017 #3

It has to do with the storage and retention of corporate records. The Velveteen Ocelot Apr 2017 #4

Yep. At work, the internal audit team are called the SOX auditors, trackfan Apr 2017 #5

trump also said he wants to de-regulate the banks....great idea, asshole spanone Apr 2017 #6

Thanks to everyone for the information. MineralMan Apr 2017 #7

Sarbanes Oxley has actually forced corporations to adopt standardized process management Foamfollower Apr 2017 #8