answer - The Sarbanes-Oxley Act refers to "The American...

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a. The Sarbanes-Oxley Act refers to "The American Competitiveness and Corporate Accountability Act of 2002." It applies to publicly-traded companies and requires them to adhere to standards in governance that increase the role board members play in overseeing financial transactions and auditing procedures. The Sarbanes-Oxley Act came into force in July 2002 and introduced major changes to the regulation of corporate governance and financial practice. It is named after Senator Paul Sarbanes and Representative Michael Oxley, who were its main architects, and it set a number of non-negotiable deadlines for compliance. The Sarbanes-Oxley Act is arranged into eleven 'titles'. As far as compliance is concerned, the most important sections within these eleven titles are usually considered to be 302, 401, 404, 409, 802 and 906. An over-arching public company accounting board was also established by the act, which was introduced amidst a host of publicity b. The enactment of the Sarbanes-Oxley Act ("SOX") in 2002 directly affected the practice of corporate law. SOX , a sweeping reform, covers the governance of public corporations and their disclosures. The law is expansive in its scope and reach. It established the Public Company
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This note was uploaded on 12/12/2011 for the course ECONOMIC acc 101 taught by Professor Xyz during the Spring '11 term at University of Phoenix.

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answer - The Sarbanes-Oxley Act refers to "The American...

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