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Sarbanes-Oxley sets standards, seeks to restore public’s confidence

Sarbanes-Oxley sets standards, seeks to restore public’s confidence

by Rick Turoczy on March 28, 2005

A string of corporate fraud cases and accounting scandals — WorldCom, Enron, Adelphia, HealthSouth and Xerox — from 2000 to 2002 prompted federal lawmakers to enact the Sarbanes-Oxley Act, which was signed into law in July 2002. Under Sarbanes-Oxley, the Public Company Accounting Oversight Board was authorized to create new standards of professional conduct and ethics for auditors and corporations.

Sarbanes-Oxley sets standards, seeks to restore public’s confidence

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