Sarbanes-Oxley Act: Criminal Aspects and Accountability in Corporate Environment

The video discusses the Sarbanes-Oxley Act, enacted in 2002 to address corporate scandals by setting laws for ethical and criminal activities of corporate managers and directors. It includes the Corporate and Criminal Fraud Accountability Act, which imposes penalties for misuse of corporate records, and the White Collar Crime Penalty Enhancement Act, which targets unethical executive conduct. The act mandates CEOs and CFOs to certify the accuracy of financial records submitted to the SEC, enhancing corporate accountability and allowing for criminal enforcement of unethical activities.

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