After the 2000 financially-engineered tech bust blew in America, regulators enacted the Sarbanes-Oxley Act of 2002, also known as SOX, to help what had become rampant accounting fraud , that led to billions in investor losses, failed companies and government bailouts. SOX required among other things, that corporate executives and auditors of publicly traded companies be held personally responsible for the reported financial information of their companies.
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