Video: Introduction to The Sarbanes–Oxley Act of 2002

In this lesson, Nick Palazzolo, CPA, dives into the historical context and pivotal importance of the Sarbanes-Oxley Act of 2002. With a backdrop of financial deception exemplified by the Enron scandal, Nick illuminates how this legislation revolutionized the accountability landscape for public companies and their auditors. From introducing the PCAOB, to mandating executive sign-offs on financial statements, Nick distills the act's vast scope into essential elements that are relevant for compliant financial reporting. Emphasizing the Act's impact, he focuses on audit committees and the bolstering of ethical standards and internal controls, ensuring you grasp the practical implications of SOX on everyday corporate governance.