The Sarbanes-Oxley Act of 2002 came in response to a series of corporate and accounting scandals in the 1990s. According to Kaya and Banerjee (2015), corporate governance gained benefits differently between the time before and after SOX 2002. Explain and discuss some of the impact of SOX corporate governance and audit quality. Discuss the conclusions from the article. Can you provide an example of how Sox 2002 reduced the degree and number of accounting fraud instances in U.S. publicly traded firms?
Source: Kaya, H. D., & Banerjee, G. (2015). The short-term and long-term impacts of sarbanes-oxley act on independence and compensation of corporate board of directors (Links to an external site.). Journal of Global Business Issues, 9(1), 1-9.