The 2002 Sarbanes-Oxley Act is a United States federal law created in response to the financial scandals of companies such as Worldcom and Enron in order to improve reliability of auditing done on them in the open capital market. This law aims at restoring investors' confidence in the accuracy and reliability of financial data released by companies. The law appies to both domestic and foreign companies (and subsidiaries thereof) whose securities are traded on US exchanges.
reference:
https://www.sec.gov/about/laws/soa2002.pdf
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