Adoption of the Sarbanes-Oxley Act of 2002 as an Important Piece of Legislation

The purpose of this report is to analyze the enhanced standards of accounting for all US public company boards, management and public accounting firms, required by Sarbanes-Oxley Act of 2002. The report also examines as to why these new standards are required and necessary. In the last section the report evaluates the costs and benefits of the changes ushered in by the Sarbanes-Oxley act of 2002.