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Sarbanes-Oxley Act |
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Sarbanes-Oxley Act Administered by the Securities and Exchange Commission (SEC) starting in 2002, the Sarbanes-Oxley Act (SOX) regulates corporate financial records and provides penalties for their abuse. It defines the type of records that must be recorded and for how long. It also deals with falsification of data. Affecting data storage capacities and planning, Sarbanes-Oxley was enacted after the Enron and WorldCom scandals of the early 2000s. The bill was sponsored by Paul Sarbanes, Democratic Senator from Maryland and additionally authored before passage by Michael Oxley, Republican Senator from Ohio. See risk mitigation.Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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No references found | s security market through the Sarbanes-Oxley Act of 2002 Known as the Public Company Accounting Reform and Investor Protection Act of 2002 the Act was authored by Senator Paul Sarbanes and Representative Michael G Through a house vote of 423-3 and supported by a landslide vote in the Senate of 99-0, a significant federal law was conceived in July 30, 2002 which brought significant changes on the laws concerning America? The Sarbanes-Oxley Act of 2002 Until 2002, external auditors were not supposed to specifically design their audit procedures to detect all frauds, just those that could materially impact the firm's financial statements. 95 Hardcover HD2745 Thanks to the Sarbanes-Oxley act of 2002, boards of directors are charged with an increased amount of responsibility for oversight of corporate functions. |
Sarbanes-Oxley Act of 2002 |
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