Sunday, November 18, 2007

SarbOx Agreement

Recently, at my workplace I had to sign the SarbOx conduct agreement. After numerous scandals with large corporations in the last decade, companies are trying to protect themselves by making employees sign it.

From Wikipedia.org:
"The Sarbanes-Oxley Act of 2002, also known as the Public Company Accounting Reform and Investor Protection Act of 2002 and commonly called SOX or Sarbox; is a United States federal law signed into law on July 30, 2002 in response to a number of major corporate and accounting scandals including those affecting Enron, Tyco International, Peregrine Systems and WorldCom. These scandals resulted in a decline of public trust in accounting and reporting practices. Named after sponsors Senator Paul SarbanesD-MD) and Representative Michael G. Oxley (R-OH), the Act was approved by the House by a vote of 423-3 and by the Senate 99-0. President George W. Bush signed it into law, stating it included "the most far-reaching reforms of American business practices since the time of Franklin D. Roosevelt."

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