The SarbanesOxley Act of 2002 (SOX) is a federal law that established sweeping auditing and financial regulations for public companies. Lawmakers created the legislation to help protect shareholders, employees, and the public from accounting errors and fraudulent financial practices.

The SarbanesOxley Act created the Public Company Accounting Oversight Board (PCAOB). Reflect on the major responsibilities of the PCAOB. Discuss how this and other legislation impact auditing practices and companies.