Company auditors were required to attest to management’s assessments of these controls and to disclose any material weaknesses. The Sarbanes-Oxley Act (SOX, as it is called) also created the Public Company Accounting Oversight Board to help re-establish the trust that investors could rely on the quality of audits.
One of the mandates of the Board was to ensure that emphasis on high-quality professionalism for accountants and auditors became the standard. BIS Review 110/2007  1  Not unexpectedly the corporate scandals and Sarbanes-Oxley have had their impact on our corporate environment here in Trinidad and Tobago.