tag:blogger.com,1999:blog-113638892011-11-27T15:57:47.315-08:00The definitive place for the latest news, information and resources related to Sarbanes-Oxley.Chief Editornoreply@blogger.comBlogger31100tag:blogger.com,1999:blog-11363889.post-63477303767203601992008-06-01T17:47:00.000-07:002008-06-01T17:48:35.140-07:00Top whitepapers download related to Sarbanes-Oxley at CFO.com as of June 01, 2008:<ol><li><a href="http://www.cfo.com/whitepapers/index.cfm/displaywhitepaper/10339474?f=top_downloads">From Talk to Action: Perfecting the Basics of Finance is No Longer Optional - A report prepared in collaboration with Alvarez &amp; Marsal Business Consulting, LLC</a></li><li><a href="http://www.cfo.com/whitepapers/index.cfm/displaywhitepaper/10308942?f=top_downloads">Sarbanes-Oxley Section 404 Testing and Evaluation</a></li><li><a href="http://www.cfo.com/whitepapers/index.cfm/displaywhitepaper/10339463?f=top_downloads">Compliance and Technology: A Special Report on Process Improvement and Automation in the Age of Sarbanes-Oxley - A report prepared in collaboration with Virsa Systems and PricewaterhouseCoopers LLP</a></li><li><a href="http://www.cfo.com/whitepapers/index.cfm/displaywhitepaper/10339458?f=top_downloads">Building a More Effective Tax Function - A report prepared in collaboration with Hudson Financial Solutions</a></li></ol><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11363889-6347730376720360199?l=soxfinancial.blogspot.com' alt='' /></div>Chief Editornoreply@blogger.com1tag:blogger.com,1999:blog-11363889.post-12615258777111493432008-06-01T16:58:00.000-07:002008-06-01T16:59:48.813-07:00What is Sarbanes-Oxley?<br /><p>The <b>Sarbanes-Oxley Act of 2002</b> (<a href="http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=107_cong_public_laws&amp;docid=f:publ204.107" class="external text" title="http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=107_cong_public_laws&amp;docid=f:publ204.107" rel="nofollow">Pub.L. 107-204</a>, 116 <a href="http://en.wikipedia.org/wiki/United_States_Statutes_at_Large" title="United States Statutes at Large">Stat.</a> 745, enacted <a href="http://en.wikipedia.org/wiki/2002" title="2002">2002</a>-<a href="http://en.wikipedia.org/wiki/July_30" title="July 30">07-30</a>), also known as the <b>Public Company Accounting Reform and Investor Protection Act of 2002</b> and commonly called <b>SOx</b> or <b>Sarbox</b>; is a <a href="http://en.wikipedia.org/wiki/United_States_federal_law" class="mw-redirect" title="United States federal law">United States federal law</a> enacted on July 30, 2002 in response to a number of major <a href="http://en.wikipedia.org/wiki/Accounting_scandals" title="Accounting scandals">corporate and accounting scandals</a> including those affecting <a href="http://en.wikipedia.org/wiki/Enron" title="Enron">Enron</a>, <a href="http://en.wikipedia.org/wiki/Tyco_International" title="Tyco International">Tyco International</a>, <a href="http://en.wikipedia.org/wiki/Adelphia" title="Adelphia">Adelphia</a>, <a href="http://en.wikipedia.org/wiki/Peregrine_Systems" title="Peregrine Systems">Peregrine Systems</a> and <a href="http://en.wikipedia.org/wiki/WorldCom" class="mw-redirect" title="WorldCom">WorldCom</a>. These scandals, which cost investors billions of dollars when the share prices of the affected companies collapsed, shook public confidence in the nation's <a href="http://en.wikipedia.org/wiki/Capital_market" title="Capital market">securities markets</a>. Named after sponsors Senator <a href="http://en.wikipedia.org/wiki/Paul_Sarbanes" title="Paul Sarbanes">Paul Sarbanes</a> (<a href="http://en.wikipedia.org/wiki/Democratic_Party_%28United_States%29" title="Democratic Party (United States)">D</a>-<a href="http://en.wikipedia.org/wiki/Maryland" title="Maryland">MD</a>) and Representative <a href="http://en.wikipedia.org/wiki/Michael_G._Oxley" class="mw-redirect" title="Michael G. Oxley">Michael G. Oxley</a> (<a href="http://en.wikipedia.org/wiki/Republican_Party_%28United_States%29" title="Republican Party (United States)">R</a>-<a href="http://en.wikipedia.org/wiki/Ohio" title="Ohio">OH</a>), the Act was approved by the <a href="http://en.wikipedia.org/wiki/United_States_House_of_Representatives" title="United States House of Representatives">House</a> by a vote of <a href="http://clerk.house.gov/cgi-bin/vote.asp?year=2002&amp;rollnumber=348" class="external text" title="http://clerk.house.gov/cgi-bin/vote.asp?year=2002&amp;rollnumber=348" rel="nofollow">423-3</a> and by the <a href="http://en.wikipedia.org/wiki/United_States_Senate" title="United States Senate">Senate</a> <a href="http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=107&amp;session=2&amp;vote=00192" class="external text" title="http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=107&amp;session=2&amp;vote=00192" rel="nofollow">99-0</a>. President George W. Bush signed it into law, stating it included "the most far-reaching reforms of American business practices since the time of <a href="http://en.wikipedia.org/wiki/Franklin_D._Roosevelt" title="Franklin D. Roosevelt">Franklin D. Roosevelt</a>."<sup id="cite_ref-0" class="reference"><a href="http://en.wikipedia.org/wiki/Sarbanes-Oxley_Act#cite_note-0" title="">[1]</a></sup></p> <p>The legislation establishes new or enhanced standards for all U.S. <a href="http://en.wikipedia.org/wiki/Public_company" title="Public company">public company</a> boards, management, and public accounting firms. It does not apply to privately held companies. The Act contains 11 titles, or sections, ranging from additional Corporate Board responsibilities to criminal penalties, and requires the <a href="http://en.wikipedia.org/wiki/United_States_Securities_and_Exchange_Commission" class="mw-redirect" title="United States Securities and Exchange Commission">Securities and Exchange Commission</a> (SEC) to implement rulings on requirements to comply with the new law. Debate continues over the perceived benefits and costs of SOX. Supporters contend that the legislation was necessary and has played a useful role in restoring public confidence in the nation's capital markets by, among other things, strengthening corporate accounting controls.</p> <p>The Act establishes a new quasi-public agency, the <a href="http://en.wikipedia.org/wiki/Public_Company_Accounting_Oversight_Board" title="Public Company Accounting Oversight Board">Public Company Accounting Oversight Board</a>, or PCAOB, which is charged with overseeing, regulating, inspecting, and disciplining accounting firms in their roles as auditors of public companies. The Act also covers issues such as <a href="http://en.wikipedia.org/wiki/Auditor" class="mw-redirect" title="Auditor">auditor</a> independence, <a href="http://en.wikipedia.org/wiki/Corporate_governance" title="Corporate governance">corporate governance</a>, <a href="http://en.wikipedia.org/wiki/Internal_control" title="Internal control">internal control</a> assessment, and enhanced financial disclosure.</p>Source: Wikipedia<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11363889-1261525877711149343?l=soxfinancial.blogspot.com' alt='' /></div>Chief Editornoreply@blogger.com0tag:blogger.com,1999:blog-11363889.post-1110496365511934922005-03-10T15:12:00.000-08:002005-03-10T15:12:45.513-08:00Welcome to SOX Financial blog site!<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11363889-111049636551193492?l=soxfinancial.blogspot.com' alt='' /></div>Chief Editornoreply@blogger.com2