In the last 10 years, there have been a number of high-profile incidents in which companies have adversely impacted investors and their own profitability because of measurement error or measurement bias in financial statements and reports

Accounting fraud was a hot area and sensitive for the SEC in the early 2000s following a barrage of scandals at companies such as Enron, Worldcom and Parmalat to mention a few. In your opinion what is the significance of Sarbanes-Oxley Act of 2002 in combating accounting fraud in public companies?