ERM Glossary: Sarbanes-Oxley

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The Sarbanes-Oxley Act of 2002 (also known as ‘Sarbox’ or ‘SOX’) is a United States federal law that set new or enhanced standards for U.S. public company boards, management and public accounting firms. It was enacted following a number of major corporate and accounting scandals including those affecting Enron, Tyco International, Adelphia, Peregrine Systems and WorldCom. These scandals shook public confidence in US securities markets and cost investors billions of dollars when the share prices of affected companies collapsed.

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