In 2002 in response to the spate of ethics scandals, the Sarbanes-Oxley Act is the act that congress pass to tighten the rules of corporate governance.
What is the Sarbanes-Oxley Act?
The Sarbanes-Oxley Act is known to be a very famous Act that was known to be called the SOX Act.
It was one that was enacted in the year 2002 as a federal law that brought about a comprehensive reform in regards to the business financial practices.
Therefore, based on the above, In 2002 in response to the spate of ethics scandals, the Sarbanes-Oxley Act is the act that congress pass to tighten the rules of corporate governance.
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