What is the Sarbanes-Oxley act of 2002?
The Sarbanes-Oxley Act of 2002 (Public Law 107-204) from the 107th Congress, was established to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws.It was enacted by the Senate and House of Representatives of the United States of America and signed on July 30, 2002. This act is also referred to as SOX.
The act is named after its sponsors Paul Sarbanes and Michael G. Oxley, in response to a number of accounting irregularities at public companies.
Key Provisions are:
For a copy of the act with associated details, go to: http://www.sec.gov/about/laws/soa2002.pdf
Source: Sec.gov
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The act is named after its sponsors Paul Sarbanes and Michael G. Oxley, in response to a number of accounting irregularities at public companies.
Key Provisions are:
- Section 302: Internal control certifications
- Section 404: Assessment of internal control
For a copy of the act with associated details, go to: http://www.sec.gov/about/laws/soa2002.pdf
Source: Sec.gov
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