The PCAOB and SOX were created in 2002 and yet accounting frauds occured, does that mean that SOX and the PCAOB are a failure? Why or why not? Solution SOX- Sarbanes Oxley Act was made in 2002 to protect the investors from fraud after the Enron scandal. PCAOB- This is \"Public company accounting oversight board\", created by SOX to protect the investors\' interest and also to analyze the audits of public companies. It is a not for profit organization and its main motive is to minimize the risk and provide protection. These laws were created for betterment and safety of people and companies but somehow and somewhere, these acts failed because of the following reasons:.