Everyone associated with the business accounting world, esp. those involved with public accounting for publicly-traded corporations, is familiar with the ramifications placed upon them by The Sarbanes-Oxley Act of 2002. SARBOX, as it’s come to be known, has opened up an entirely new realm of corporate accountability with regard to how all financial transactions are collected, organized, and eventually reported to the investing public. sarbox compliance is a big deal as ALL companies (or organizations receiving public monies) are required to adhere to its mandates. SARBOX has, without a doubt, placed an added burden upon corporate fiscal managers and accounting departments. But without the legislation, the accounting debacles of the late 1990s and early 2000s at companies such as Enron and Tyco, could very well be repeated.
