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Sarbanes-Oxley Act
(redirected from Sarbannes-Oxley Act)

    Also found in: Financial, Wikipedia 0.01 sec.
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.
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For larger corporations, complete training for each section of your company affected, as well as overall training to let each section know how the Sarbannes-Oxley Act affects the company at large, is recommended.
How Are You Liable Under the Sarbanes Oxley Act by Earl Powers / Law community
Led in the US by the Sarbannes-Oxley Act, it has trickled down into the UK in various forms and has resulted in some very sensible financial regulations being imposed, adopted or prepared for future adoption.
Paul williamson column by The Journal (Newcastle, England)
68 percent owner of Russellville Bancshares, blamed the failed deal on the new regulatory requirements under the Sarbannes-Oxley Act, which he labeled "too time-consuming and too expensive.
Bank deal is dead--at least for now by Arkansas Business
 
 
 
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