Exhibits

July 30, 2012 The Sarbanes-Oxley Act: The First Decade: Michael Oxley, Mark Beasley and Paul Sarbanes

This exhibit was made possible by the generous support of Jenner & Block LLP.

July 2017

15^TH ANNIVERSARY OF THE SARBANES-OXLEY ACT

July 30, 2017 marked the 15th anniversary of the enactment of the Sarbanes-Oxley Act (SOX), legislation responding to high-profile financial scandals in several major public companies. Congressional interest began in late 2001 with investigative hearings into Enron Corporation's accounting practices. The working relationship between the external accounting firm and company management had become collusive, and massive fraud was revealed.

In the spring of 2002, on the heels of the Enron debacle, additional financial frauds were uncovered in public companies, including Worldcom and Adelphia, further rocking the U.S. capital markets and profoundly undermining public confidence in the system of investor protection. This spurred definitive legislative action. With near unanimous, bi-partisan approval in the House and Senate, SOX was signed into law on July 30, 2002.

Among other changes, SOX resulted in new corporate governance requirements for companies and boards, new independence rules for external auditors, and a new regulator - the Public Company Accounting Oversight Board -- for accounting firms conducting audits of public companies.

Video Perspectives

collage showing faces of the interviewees of the following videos

The videos are provided courtesy of the Center for Audit Quality (CAQ).

SOX and the Future

SOX Investor Confidence

SOX Classroom Teaching

SOX Audit Quality

SOX Financial Reporting

A text alternative of the videos is available in a single PDF file. Download transcripts of the videos.

Highlights from the Museum and Archive

Papers

January 25, 2001: Enron Press Release: Enron Announces Increased Earning Target for 2001
image pdf (Courtesy of the U.S. Department of Justice, Enron Exhibits)
Summer 2001: Letter to Kenneth Lay from anonymous Enron employee
image pdf (Courtesy of the U.S. Department of Justice, Enron Exhibits)
August 14, 2001: Enron News Release: Enron Announces Skilling Resignation
image pdf (Courtesy of the U.S. Department of Justice, Enron Exhibits)
October 3, 2001: Goldman Sachs Analyst Report: Enron Corporation
image pdf (Courtesy of the U.S. Department of Justice, Enron Exhibits)
October 22, 2001: Enron News Release: Enron Announces SEC Request, Pledges Cooperation
image pdf (Courtesy of the U.S. Department of Justice, Enron Exhibits)
October 23, 2001: Enron All Employee Meeting
image pdf (Courtesy of the U.S. Department of Justice, Enron Exhibits)
November 14, 2001: Enron Conference Call
image pdf (Courtesy of the U.S. Department of Justice, Enron Exhibits)
February 1, 2002: Action Memorandum from SEC Office of Congressional and Intergovernmental Affairs concerning Enron
image pdf (Courtesy of the National Archives and Records Administration)
February 1, 2002: Memo to David Becker from Alan Beller with Enron information
image pdf (Courtesy of the National Archives and Records Administration)
March 21, 2002: Written Testimony Concerning Accounting and Investor Protection Issues Raised by Enron and Other Public Companies - Harvey L. Pitt, SEC Chairman
image pdf (Courtesy of Kathryn McGrath)
July 5, 2002: Request to SEC Chairman Harvey Pitt from U.S. Representatives W.J. Tauzin and James Greenwood regarding Rite Aid, Adelphia, Waste Management, Kmart, Sunbeam, Enron, Peregrine and MicroStrategy
image pdf (Courtesy of the National Archives and Records Administration)
July 30, 2002: Sarbanes-Oxley Act of 2002 (Public Law No. 107-204); Sections 203(3), 203(f), 209(e)(3)(A) of IAA amended; Section 42(e)(3)(A) of ICA Amended
document pdf (Government Records)
August 30, 2002: SEC report to Congress on implementation of Sarbanes-Oxley Act Section 302: certification of financial information
image pdf (Courtesy of National Archives)
June 5, 2003: SEC report to Congress on implementation of Sarbanes-Oxley Act Section 404: report of management of internal controls
image pdf (Courtesy of National Archives)
Winter 2003: "Sarbanes - Oxley, Back to the Future" by Theodore Levine and Daniel Hawke, Chief Legal Executive
document pdf (Courtesy of Theodore Levine)
June 2, 2004: Paper, by Harvey L. Pitt
document pdf (prepared for the museum by Harvey L. Pitt)

Photos

November 2001: Stephen Cutler
Fall 2002: SEC Commission

Paul Atkins, Cynthia Glassman, Harvey L. Pitt, Harvey Goldschmid and Roel Campos
June 9, 2005: Harvey L. Pitt
June 6, 2006: Donald Nicolaisen
July 30, 2012: Paul Sarbanes

The Sarbanes-Oxley Act: The First Decade
October 16, 2012: Alan Beller

Deloitte Fireside Chat VII: The Profession Looks at Sarbanes-Oxley
November 15, 2012: Linda Chatman Thomsen and Dean Shahinian

A Measured Response?

Oral Histories

21 May 2015 David Becker

With Dr. William Thomas

edited transcript (pdf)

31 May 2013 Alan Beller

With Robert K.D. Colby

edited transcript (pdf)

13 April 2015 Roel Campos

With Dr. William Thomas

edited transcript (pdf)

21 November 2005 Cynthia Glassman

With Dr. Kenneth Durr

edited transcript (pdf)

17 June 2013 Harvey Goldschmid

With Robert K.D. Colby

edited transcript (pdf)

10 December 2010 Donald Nicolaisen

With Dr. Kenneth Durr (Made possible through the support of ASECA - Association of SEC Alumni, Inc.)

edited transcript (pdf)

09 March 2012 Michael Oxley

With Dr. James Stocker

edited transcript (pdf)

11 May 2007 Harvey Pitt - Part I

Video: 18.46

From 1968 to 1978, Harvey Pitt served on the staff of the SEC, eventually becoming the agency's youngest-ever General Counsel in 1975 at age 30. From 2001 - 2003 he was the 26th SEC Chairman. For nearly 25 years prior to serving as SEC Chairman, Mr. Pitt was a partner in the law firm, Fried, Frank LLP. After he left the SEC, he founded the strategic consulting firm, Kalorama Partners, LLC. He was a founding trustee and first President of the SEC Historical Society.