Relief from Sarbanes-Oxley on the way?

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Whats the problem?

SOX for dummies:

301, Independant auditors have to be independant.
302, CFO & CEO have to state the accounts are not bogus.
303, Company execs not allowed to coerce or bully independant auditors.
304, If officers get a bonus based on false accounts they have to pay it back.
305, Convicted fraudsters can't be company officers.
306, Insider trades during the blackout period before releasing the reports are not allowed.
401, You must disclose all material things in the accounts.
402, No personal loans to executives.
403, Must disclose personal Company<->Executive transactions.
404, Must say how they have implemented the check required in 403.
407, Shall confirm the audit committee includes at least 1 financial expert.
409, Must disclose material things promptly.

Whats the problem?

Posted by: Nigel Johnstone   Posted on: 06/09/05 You are currently: a Guest | Members login | Terms of Use

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