Compliance for Sarbanes Oxley
Corporate scandel, whistleblowing and broke stockholders are all key words when referring too the collapse of Enron, WorldCom or Tyco International. Each of these companies, and a few others, were involved in major corporate scandals that were discovered in 2001 and 2002. These major news stories hinged on the fact that the managements of these companies were hiding funds and “cooking the books”. Once the scandals were found out, the United States government enacted the Sarbanes Oxley Act that required all publicly owned companies to follow a specific code of reporting and communication within a company. The idea is that Sarbanes Oxley compliance would keep any public company in the clear of audit pitfalls and corporate fraud.