Journal of International Business and Law Volume 3 | Issue 1 Article 2 2004 A Look at the Causes, Impact and Future of the Sarbanes-Oxley Act Scott Green Follow this and additional works at: http://scholarlycommons.law.hofstra.edu/jibl Recommended Citation Green, Scott (2004) A" Look at the Causes, Impact and Future of the Sarbanes-Oxley Act," Journal of International Business and Law: Vol. 3: Iss. 1, Article 2. Available at: http://scholarlycommons.law.hofstra.edu/jibl/vol3/iss1/2 This Article is brought to you for free and open access by Scholarly Commons at Hofstra Law. It has been accepted for inclusion in Journal of International Business and Law by an authorized administrator of Scholarly Commons at Hofstra Law. For more information, please contact
[email protected]. Green: A Look at the Causes, Impact and Future of the Sarbanes-Oxley Act THE JOURNAL OF INTERNATIONAL BusINEss & LAW A LOOK AT THE CAUSES, IMPACT AND FUTURE OF THE SARBANES-OXLEY ACT By: Scott Green* I. INTRODUCTION The agents and gatekeepers of our public companies serve an important role in the capitalist system. At the most basic level, they are the appointed guardians of a stockholder's invested capital. The agents are our boards of directors and executive management of our public companies and the gatekeepers are the regulators, accountants, lawyers, and even the financial analysts whose opinions we rely on when investing capital. The near simultaneous implosion of Enron, WorldCom, Global Crossing and Adelphia Communications together with the management hijinks at Tyco, HealthSouth and Imclone, among others, led to a public crisis of confidence in our nation's financial markets in 2001 and 2002.