There is no denying the fact that the SOX has been a decent attempt by a much aligned government to bring discipline and stricter regulations for the companies to adhere to. This means that criminals and embezzlers will have to think twice about their actions. However, the SOX needs to be amended in many areas and its performance measured continuously to find areas for improvement. As the act currently stands, it will not be able to curtail perpetrators from their misdeeds. It needs to change and adopt a dynamic nature similar to the environment.
Also, there needs to be a degree of uniformity in accounting processes for all major corporations so that any irregularity is detected. This should be the case for all corporations, not merely US corporations. For this purpose, the International Accounting Standards Committee (IASC) is working with FASB to implement these measures both in the US and abroad (McCarthy, 2003). If uniformity is achieved in accounting standards, it will be easier to detect fraud and the SOX will succeed in the case.
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