After the Sarbanes Oxley act came into force, accounting system and financial statements disclosed by the companies made tremendous progress. This improvement has been possible due to rigorous requirements stated in the Sarbanes Oxley act. Due to this improvement it helps to protect investor confidence in the companies and the US legislature as well. Moreover, it also helps in establishing a public company accounting oversight board, auditor independence, and corporate responsibility and enhanced financial disclosures.
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