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Discuss your thought on these 2 questions and provide explanation: What is the Sarbanes-Oxley Act of 2002 (SOX) and why is itimportant? Related to SOX,

Discuss your thought on these 2 questions and provide explanation:

  1. What is the Sarbanes-Oxley Act of 2002 ("SOX") and why is itimportant? Related to SOX, the SEC has decided to exempt smaller public companies with less than $100 million in annual revenue from the requirement for an attestation of their internal control over financial reporting by an outside auditor.Do you think this is a good or bad modification of the SOX requirements?
  2. What is the PCAOB and why is it important?

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