SOX
ORG
SOX
Unless Congress intervenes, microcap companies, those with a market value of $75 million or less, will join bigger companies in adhering to the most burdensome parts of the Sarbanes-Oxley Act, known as SOX. But the Sarbanes-Oxley Act, passed by Congress in 2002 after the Enron, Tyco and WorldCom accounting scandals, is becoming a blueprint for how private companies, nonprofit groups and even municipal governments can demonstrate the soundness of their financials. John Bace, an analyst at Gartner in its Chicago office, said that SOX was becoming the gold standard for governance, transparency and controls.