The Sarbanes Oxley-Act is a set of complex regulations that is
considered to be one of the most important business reform
acts since 1934. The Act combines bills that were drafted by
Senator Paul Sarbanes and Congressman Michael Oxley designed
to enforce corporate accountability and responsibility.
Congress quickly enacted the bill to restore confidence
in corporate America, where a plunging stock market, increased
corporate fraud and numerous accounting scandals, not to
mention record breaking bankruptcies, have had a negative
impact on the economy. The Act has granted the SEC increased
regulatory control, lengthened the statute of limitations and
imposed greater criminal and compensatory punishment on
executives and companies that do not comply.
The Act is made up of 11 Titles with corresponding Sections
each covering a specific area of reform. The next article
explains the impacts of these Sections on your business.
How It Affects Your