BL-H-The Sarbanes-Oxley Act of 2002 (Excerpts and Explanatory Comments)

BL-H-The Sarbanes-Oxley Act of 2002 (Excerpts and Explanatory Comments)

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The Sarbanes-Oxley Act of 2002 (Excerpts and Explanatory Comments) Appendix Introduction H-1 Section 302: Corporate Responsibility for Financial Reports H-2 Section 306: Insider Trades During Pension Fund Blackout Periods H-3 Section 402: Periodical and Other Reports H-4 Section 403: Directors, Officers, and Principal Stockholders H-5 Section 404: Management Assessment of Internal Controls H-6 Section 802 (A): Destruction, Alteration, or Falsification of Records in Federal Investigations and Bankruptcy H-7 Section 804: Time Limitations on the Commencement of Civil Actions Arising Under Acts of Congress H-8 Section 806: Civil Action to Protect Against Retaliation in Fraud Cases H-9 Section 807: Securities Fraud H-10 Section 906: Failure of Corporate Officers to Certify Financial Reports Appendix Recap Page 1 of 14 Print Chapter 2010-8-30 ..
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Appendix Introduction Note: The author's explanatory comments appear in italics following the excerpt from each section. Page 2 of 14 Print Chapter 2010-8-30 ..
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H-1 Section 302: Corporate Responsibility for Financial Reports (a) Regulations required The Commission shall, by rule, require, for each company filing periodic reports under section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m, 78o(d)), that the principal executive officer or officers and the principal financial officer or officers, or persons performing similar functions, certify in each annual or quarterly report filed or submitted under either such section of such Act that– (1) the signing officer has reviewed the report; (2) based on the officer's knowledge, the report does not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which such statements were made, not misleading; (3) based on such officer's knowledge, the financial statements, and other financial information included in the report, fairly present in all material respects the financial condition and results of operations of the issuer as of, and for, the periods presented in the report; (4) the signing officers– (A) are responsible for establishing and maintaining internal controls; (B) have designed such internal controls to ensure that material information relating to the issuer and its consolidated subsidiaries is made known to such officers by others within those entities, particularly during the period in which the periodic reports are being prepared; (C) have evaluated the effectiveness of the issuer's internal controls as of a date within 90 days prior to the report; and (D) have presented in the report their conclusions about the effectiveness of their internal controls based on their evaluation as of that date; (5) the signing officers have disclosed to the issuer's auditors and the audit committee of the board of directors (or persons fulfilling
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This note was uploaded on 10/12/2011 for the course ACCT 362 taught by Professor Mint during the Fall '11 term at CUNY Queens.

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BL-H-The Sarbanes-Oxley Act of 2002 (Excerpts and Explanatory Comments)

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