Has The Sarbanes-Oxley Act, Has SOX Been Successful?

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Back in the year, 2002, many people were losing money like in businesses and companies. These corporations were not making any extra money. They were either making the same amount or losing money. Some of the reasons for this was because stocks were decreasing instead of increasing and people were unable to invest in their money.

Majority of these businesses were losing a good amount of money to where it became very noticeable. To prevent this issue from getting worse, an act was made. This act is called the Sarbanes-Oxley Act, also known as the SOX act. This act was passed to help people make money instead of losing money. Overall, it is to prevent any more financial related problems.

Even though the Sarbanes-Oxley Act was made, businesses ended up having to do more work like checking statements and coming up with summaries about how the overall business is doing, but in the end it was worth it. In the article, Has SOX Been Successful?, written by Terri Eyden, the Sarbanes-Oxley Act supposedly did not make many positive effects on businesses. Companies were depending on this act to help their businesses grow. The business world is very competitive and if anything financially goes wrong like a balance sheet, that can really hurt them and even cause workers to lose their jobs. Once records were shown that this act did not make many positive impacts on companies, other acts were made like the JOBS act. This act helped companies grow instead of hurting them. …show more content…
This act actually helped some businesses grow. Nothing went wrong financially for them and they could see a positive difference in their company. Some differences maybe more money, no accounting mistakes, and overall a happy
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