Accounting fraud is something that seemed to spark roughly in the 2000s. A few examples of accounting fraud would be Enron, Tyco, and WorldCom. In 2002 the US congress passed an act called The Sabranes-Oxley Act. This act was passed to protect a company’s investors from the possibility of fraudulent accounting activities by corporations. There are two basic portions of the act, Section 302 and 404. Section 302 basically states that senior managers have to certify the accuracy of the accounts or reported financial statements. Section 404 was created as a requirement that management and auditors establish internal controls and reporting methods on the adequacy of those controls. (Investopedia.com) The Sabranes-Oxley Act has made accounting more of a “locked-down” procedure within a company. It no longer is easy to slip up on something or forget to add or subtract any information into a financial statement. Another thing the Sabranes-Oxley Act did was change the way a board of directors and the management level works together. Before it seemed like the board of directors worked for the management of a company, but now it seems like the management works for the board of directors. Which seems like it should be that way no matter what. Internal controls are what creates the Framework of the accounting act. They are there to offer the best and most promises to a company or organization. There are a few things that having an internal control can benefit your organization. The first one is the amount of research done in tax laws and tax planning topics. The other one is having alternative approaches to common and unique tax