Sarbanes-Oxley Act

A U.S. federal law enacted in 2002 in response to major corporate accounting scandals, establishing new or expanded requirements for public company boards, management, and accounting firms. The act includes provisions on corporate responsibility, enhanced financial disclosures, auditor independence, and corporate fraud accountability. Compliance with Sarbanes-Oxley drove significant enhancements in internal control frameworks and influenced the development of enterprise risk management approaches, contributing to the foundation upon which RBPM was later built.