TITLE

Keep Your SOX On: Managing Compliance

AUTHOR(S)
Buyer, Martha
PUB. DATE
September 2005
SOURCE
Business Communications Review;Sep2005, Vol. 35 Issue 9, p17
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article focuses on the Public Company Accounting Reform and Investor Protection Act in the United States, which was passed in the wake of the corporate malfeasance of individuals at the top of large, highly visible companies including Enron, World Com and Adelphia. The bill, known as the Sarbanes-Oxley, or simply as "SOX," has had a major impact on the way that all publicly traded companies conduct and document their businesses in the U.S. Foreign business entities that operate in U.S. markets and have tax filing obligations in the country must also comply with Sarbanes-Oxley. Sarbanes-Oxley sets strict rules requiring verifying, documenting and reporting internal financial information, and it imposes personal liability on senior executives who sign the corporate tax returns, generally the chief executive officer and the chief financial officer. These stringent and absolute obligations have forced every subject company to closely examine, document, and quite often, modify its practices in order to comply.
ACCESSION #
18267040

 

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