Large corporations have made many contributions to the way business is done today. The United States economy depends on these corporate entities to thrive and effectively conduct business. A large number of the population work for a large corporation. The majority of the products sold from day to day are produced by corporations, transported by a corporation and sold to consumers on a retail level by a corporation. Since these corporate giants have ingrained themselves into the America economy it’s important that they conduct their business in a legal and ethical manner.
When they do not follow legal guidelines or find loop holes around them the damage trickles down the ladder. When companies like Enron, Tyco and Worldcom were discovered falsifying finance information and doing millions of dollars of damage, in 2002 Sarbanes Oxley was put into place to thwart corporate giants from reporting incorrect by reporting all numbers in a uniform fashion with an approval of all the proper upper management. No more lack of accountability by turning a blind eye. Now large corporations are held to a structured process that holds all departments accountable for what has been reported. The punishments for violating these terms can be expensive, fines can exceed millions of dollars.
It has been over ten years since Sarbanes Oxley has been out into effect and the results vary. While some can see it as a success, other see opportunities for improvement. Length of term for the corporate director is currently not capped and could stand to change. Having the same decision maker in charge for too long can make the corporation stale and void of new ideas,

rotating that management will change that. High paid professional members of the board have gotten spread out and can multiple boards for multiple corporations. Limiting these will force them to focus on a few at a time and