The Sarbanes-Oxley Act
Whether Sarbanes-Oxley has done anything to curb fraud is subject to debate. The Act has, in a larger part, enhanced efforts to curb fraud as the measures established in the Act have led to improved corporate governance practices and better accountability. According to Upadhyay & Triana (2021), research suggests that Sarbanes-Oxley (SOX) has effectively reduced misrepresentation of financial information, thus reducing fraud. Notably, this is so because the Act raises awareness of financial reporting issues and corporate governance. However, Upadhyay & Triana (2021) note that it is hard to quantify the gains in reducing fraud through the Sarbanes-Oxley Act. The Act has various impacts on U.S. companies competing globally. First, the companies have to incur compliance costs of implementing and maintaining SOX through internal controls installation, reporting obligations, and independent audits. Second, U.S. companies competing globally gain an advantage over foreign competitors in investor confidence. Companies adhering to the Act have greater investor confidence than those that do not comply.
References
Upadhyay, A., & Triana, M. D. C. (2021). Drivers of diversity on boards: The impact of the Sarbanes‐Oxley act. Human Resource Management, 60(4), 517-534.
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Question 
The Sarbanes-Oxley Act
The Sarbanes-Oxley Act is a product of a series of scandals that took place around the turn of the millennium.
Has Sarbanes-Oxley really done anything to curb fraud?
How does the Sarbanes-Oxley Act affect U.S. companies as they compete globally?