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Regulatory Project Manager – Contract Image

The SOX act, formally known as The Sarbanes Oxley Act 2002, was introduced by the United States Congress because of the collapse of high-profile organisations WorldCom and Enron who overstated their profits.

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The SOX Act is named after the key architects, Senator Paul Sarbanes and Representative Michael Oxley, who introduced significant changes to the regulation of corporate financial practices and governance for organisations in America.

Although it is a US law, many jobs in Ireland will require IT professionals to have an understanding of the Sarbanes Oxley Act. With business systems between legal entities connected via online networks, IT systems will need to follow Sarbanes Oxley compliance rules to ensure transparent audit and reporting. If the business is a subsidiary of a US-listed company but based in another country, such as Ireland, it will need to adopt Sarbanes Oxley compliance.