What role does the Sarbanes Oxley Act of 2002 play in the fi

What role does the Sarbanes Oxley Act of 2002 play in the financial statements

Solution

SOX act lays new laws for the public company\'s board , management and accounting firms

It mandates that senior management takes responsibility of fairness and correct representation of financial statements.

This act also lays laws regarding processes and procedures of compliance audit and inspecting .

Explicitly enhancement of financial statements like showing off balance sheet items and share transaction of corporate officers.