On Tuesday, July 30, 2002, President Bush signed into law the Sarbanes-Oxley Act of 2002 (SOA), one of the most extensive revisions of the federal securities laws in the last 60 years. The Act, which applies in general to publicly held companies and their audit firms, dramatically affects the accounting profession. It impacts not just the largest accounting firms, but also any CPA actively working as an auditor of, or for, a publicly traded company. The SOA was passed in response to the epidemic of corporate scandals (most resulting in bankruptcies) and accounting abuses at public co
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