SOX Compliance: What Is It and What Are the Requirements?
Unfortunately, it will often take some kind of disaster in the business world before a government takes action to prevent it from happening again. It’s only when significant data breaches happen that states implement compliance laws to avoid mishandling data; in this case, SOX compliance has a similar backstory. In the early 2000s, the collapse of corporate giants Enron, Tyco, and WorldCom exposed flaws in corporate accountability, leading to widespread fraud and massive investor losses.