The recent economic downturn and corporate scandals compounded concerns of corporate accountability and confidence in U.S businesses. To improve shareholder confidence in management’s ability to self-govern, the Federal Government implemented strict regulatory protocols to help restore accountability and improve public as well as shareholder confidence. The primary example of course is the Sarbanes-Oxley (SOX) Act of 2002 which sought lasting eradication of corporate corruption by implementing specific controls across key financial business processes.
