Although just shy of its second birthday, the impact of the Sarbanes-Oxley Act ("Sarbox") has been so significant that many experts now believe that it is the single most important piece of legislation affecting corporate governance and financial reporting since the Securities and Exchange Act was enacted in the 1930s. Officially referred to as the "Public Company Accounting Reform and Investor Protection Act," Sarbox mandates that companies make new disclosures on such far-reaching corporate governance issues as internal controls, ethics codes and the makeup of certain audit committees.