School of Business
Primary Subject Area
Business Administration, Accounting
Accounting | Business Law, Public Responsibility, and Ethics
Many changes have taken place over the past eight years in almost every sphere of the business world. The first topic discussed within this paper will be the origin and background of Sarbanes-Oxley, why it was necessary, and what the primary causes of such regulation were. There are many new regulations that are required of companies, primarily publicly-traded companies, which will be covered in the next section. Finally, the last discussion will involve the impact of SOX and the Public Company Accounting Oversight Board on financial reporting and the changes that have taken place within companies. The impact of this legislation, according to President Bush, was “the most far reaching reforms of American business practices since the time of Franklin Delano Roosevelt” (President Bush, 2002, para. 4).