SOX

The Sarbanes-Oxley Act, also known as SOX, is a US federal law that was passed in 2002 in response to corporate accounting scandals such as Enron and WorldCom. The law introduced new or enhanced requirements for public companies and accounting firms to improve the accuracy and reliability of financial reporting and increase transparency and accountability. The law also includes provisions related to corporate governance, internal controls, and whistleblower protection. SOX compliance is mandatory for public companies.