Corporate Compliance

Also known simply as “Sarbanes Oxley” or “SOX,” the Sarbanes-Oxley Act of 2002 is the public company accounting reform and investor protection act. It was passed in the wake of a number of corporate accounting scandals at companies like Enron and Arthur Andersen, which came to light after the year 2000, in order to reinforce investment confidence and protect investors by improving the accuracy and reliability of corporate disclosure.

Signed on July 30, 2002, the legislation’s goal is to create oversight at publicly traded companies and independent auditors so investors are not fooled by phony profits and revenue. Among the several results of Sarbanes-Oxley is the creation of an oversight board for accounting firms that audit publicly traded companies. It also stresses independence of auditors and financial analysts; addresses corporate responsibility at publicly traded companies; and protects whistleblowers.

At no point does the word “software” appear in the text of the Sarbanes-Oxley legislation. But in order to achieve the type of audit trails and records keeping required to be in compliance, most companies will use some type of content or records management software.

Section 404 of Sarbanes-Oxley is widely cited in the literature of software companies. It requires each annual report of a publicly traded company to contain an “internal control report”, which states the responsibility of management for establishing and maintaining an adequate internal control structure and procedures for financial reporting; and contains an assessment of the effectiveness of the internal control structure and procedures of the issuer for financial reporting.

Section 409 says that companies must disclose information on material changes in the financial condition or operations of the issuer on a rapid and current basis.

To read a summary of the entire Sarbanes-Oxley legislation, visit: http://thecaq.aicpa.org/Resources/Sarbanes+Oxley/.

For resources that can help you deal with Sarbanes-Oxley look below

Student Guide to the Sarbanes-Oxley Act List Price: $22.95 Sale Price: $24.85 Enron was once the seventh largest company on the fortune 500. yet, in the wake of revelations of accounting irregularities and securities fraud, it became entangled in the greatest business scandal of a generation and, after declaring bankruptcy, essentially blinked out of existence. similar accoun...

Complete Guide to Sarbanes-Oxley: Understanding How Sarbanes-Oxley Affects Your Business List Price: $14.95 Sale Price: $4.50 Congress passed the sarbanes-oxley act in response to major corporate and accounting scandals--and many consider the act to be the most significant change in corporate governance and securities regulations in the past seventy years. sox requirements have brought about far-reaching changes f...

Guide to the Sarbanes-Oxley Act: What Business Needs to Know Now That it is Implemented List Price: $14.95 Sale Price: $0.75 This brief guide explains the ins-and-outs of the sarbanes-oxley act, helping you understand how this major legislative change affects ceos, cfos, and other financially responsible officers -- and ultimately you in your own business life.

Sarbanes-Oxley Guide for Finance and Information Technology Professionals List Price: $55.00 Sale Price: $25.00 Praise for sarbanes-oxley guide for finance and information technology professionals "effective sox programs enlist the entire organization to build and monitor a compliant control environment. however, even the best sox programs are inefficient at best, ineffective at worst, if there is a la...

Sarbanes-Oxley For Dummies List Price: $21.99 Sale Price: $7.58 You may not believe that there’s a fun and easy way to comply with sarbanes –oxley, but once you have sarbanes-oxley for dummies, second edition in front of you, you’re sure to change your mind. this friendly guide gets you quickly up to speed with the latest sox legislation and shows you safe...

Manager's Guide to the Sarbanes-Oxley Act: Improving Internal Controls to Prevent Fraud List Price: $49.95 Sale Price: $8.20 "in the complex new world of sarbanes-oxley, it is refreshing to read a book that has comprehensive answers for general managers wanting to do the right thing."—jim balsillie, ceo of research in motion "scott green has provided us with a book on management controls that is as e...

Essentials of Sarbanes-Oxley (Essentials Series) List Price: $34.95 Sale Price: $18.26 * what is the importance of sections 302 and 404? * "implementing" sox using coso and cobit * sox's impact on foreign companies andnonprofits * achieving cost-effective sustainable compliance * the evolving role of the sec and the pcaob praise for essen...

The Sarbanes-Oxley Debacle: What We've Learned; How to Fix It (Aei Liability Studies) List Price: $25.00 Sale Price: $14.77 The sarbanes-oxley act of 2002 (sox) is a colossal failure, poorly conceived and hastily enacted during a regulatory panic. sox should be repealed, but failing that, there is some hope that a recent lawsuit could provide the leverage to enact some major changes. the sarbanes-oxley debacle seeks to s...

How to Comply with Sarbanes-Oxley Section 404: Assessing the Effectiveness of Internal Control List Price: $85.00 Sale Price: $66.71 Now fully revised and updated, the third edition of how to comply with sarbanes-oxley section 404: assessing the effectiveness of internal control is the perfect starting point for companies with no previous sox experience. packed with practice aids including forms, checklists, illustrations, diagra...

Sarbanes-Oxley Ongoing Compliance Guide: Key Processes and Summary Checklists List Price: $35.00 Sale Price: $18.55 Quick and easy implementation and maintenance guide for ongoing sarbanes-oxley compliance for most companies, achieving compliance to the sarbanes-oxley act (sox) has proven to be more challenging, and more costly, than initially anticipated. in many cases, initial and second-year compliance ...