In the midst of corporate scandals that took the U.S. government by storm, Sarbanes Oxley Act was passed by the U.S. Congress and signed by President George W. Bush into a law on July 30, 2002. The act was passed to ensure transparency and accountability in the working procedures of the corporate world in order to restore the investor’s confidence in the shaken market. Simply put, the Sarbanes Oxley Act 404 is an auditors nightmare. These companies were found to be spending as much as 2.5% of their revenue just for ensuring compliance with Section 404.
More on sarbanes oxley and sarbanes oxley training