SOX
Abbreviation with 2 meanings
| Stands for | Sarbanes-Oxley Act |
|---|---|
| Meanings | 2 |
| Categories | Business & Finance, Science & Engineering |
| Also written | SOx |
SOX has two meanings. It stands for Sarbanes-Oxley Act (accounting) or Sulfur oxides (environmental).
Meanings of SOX at a glance
| # | SOX stands for | Context |
|---|---|---|
| 1 | Sarbanes-Oxley Act | Business & Finance › Accounting |
| 2 | Sulfur oxides | Science & Engineering › Environmental |
1. Sarbanes-Oxley Act
Business & Finance · Accounting Abbreviations · also used in government
US federal law of 2002 that tightened corporate governance and financial reporting for public companies after the Enron and WorldCom scandals. It requires CEO and CFO certification of financial reports, auditor independence and management assessment of internal controls, and it created the PCAOB.
Example: Testing for our SOX controls starts in September so the auditors can rely on them for the year-end opinion.
Named after its sponsors, Senator Paul Sarbanes and Representative Michael Oxley. Section 404 requires management to assess internal control over financial reporting, and larger companies must also have their auditor attest to it, which made compliance costly. SOX also added criminal penalties for certifying false reports and new whistleblower protections. Also nicknamed Sarbox.
2. Sulfur oxides (SOx)
Science & Engineering · Environmental Abbreviations
Gases, mainly sulfur dioxide (SO2), released when sulfur-containing coal and oil are burned and when metal ores are smelted. SOx causes respiratory harm and acid rain and forms sulfate particles that also reflect sunlight and slightly cool the climate.
Example: Since 2020, ships must burn fuel with no more than 0.5% sulfur to curb SOx emissions.
The US Acid Rain Program, created by the 1990 Clean Air Act amendments, used an emissions-trading cap to cut power plant SO2 dramatically and became a model for carbon markets. The International Maritime Organization's 2020 sulfur cap, down from 3.5%, sharply reduced shipping SOx; scientists are studying whether the resulting cleaner air slightly increased warming.
Related abbreviations
More accounting abbreviations
- RE – Retained earnings
- ROU – Right-of-use asset
- SFAS – Statement of Financial Accounting Standards
- SG&A – Selling, general and administrative expenses
- T&E – Travel and expenses
- TB – Trial balance
- VIE – Variable interest entity
- WAC – Weighted average cost
See all 95 accounting abbreviations →