What are the three most important improvements in the governance structure that could result from SOX?

The Sarbanes-Oxley Act (SOX) introduced several key improvements in governance structures, notably enhancing board accountability through mandatory financial disclosures and internal controls. It established the requirement for independent audit committees, which bolsters oversight and reduces conflicts of interest. Additionally, SOX increased the responsibility of executives for the accuracy of financial statements, promoting greater transparency and integrity in corporate reporting. These changes collectively aim to restore investor confidence and improve overall corporate governance.