Sarbanes-Oxley act

Named after Paul sarbanes and Michael oxley

Was the most important passed since 1933 with the inception

Was created in lieu

Act passed

All due to

Private and non-profit

Sox mandated

• Sec to set up public companies accounting oversight board
• Executives could not get loans from corporations

After sox companies must implement internal controls

Due to the influence of sox it has opened to private and non-profit companies

Private companies took on sox in order to become public or to have a public company take them over

With the exception of sox section306 investors have to wait for sec or justice department to bring actions for sox violations

The intent of the sox act is to protect investors by improving the accuracy and reliability of corporate disclosure to the securities law

Questions