Certifications Are In--Now, What's Next?

Marshall, Jeffrey
October 2002
Financial Executive;Oct2002, Vol. 18 Issue 7, p7
Academic Journal
This article focuses on after-effects of the decision of major exchange-listed companies to certify their financial statements. The speculation over what will happen next has been a cause of concern to financial executives. All of the 695 companies required to certify statements according to the new rules were established by the Sarbanes-Oxley Act of 2002, did so. While the law requires only the chief executive officer (CEO) and chief financial officer (CFO) to certify the financial statements, some companies have established policies asking junior-level managers to issue their own internal certifications about their due diligence. Included in the rules is a newly defined term "disclosure controls and procedures" that a company's principal executive and financial officers are expected to establish and maintain.


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