Home
>
Political
>
The Sarbanes-Oxley Act

The Sarbanes-Oxley Act

The Sarbanes-Oxley Act Was created on July 30th 2002, by Senator Paul Sarbanes and Representative Michael Oxley, who drafted the bill. It followed a series of high profile scandals. Its objective is to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws.

The Sarbanes-Oxley Act is mandatory every organization small and large must comply.

Sarbanes-Oxley is a direct result of Enron, WorldCom and various other accounting scandals of the 1990's.

In essence, Sarbanes-Oxley gives corporate boards far less flexibility than they once had while simultaneously leaving executives with far fewer reasons to want to be a board member. If you are a successful executive late in your career, the benefits of lending your considerable expertise as a board member no longer outweigh the risks to your net worth.

Without a doubt, the intent of Sarbanes-Oxley is admirable, and sorely needed. However, the practical functioning of this legislation leaves much to be desired.

In far too many companies, the board of directors consists of "yes" men and woman who parrot the will of the Chairman and CEO. Most board members have been in their positions for considerable periods of time, and forums do not exist that encourage both an active participation in the business matters of the firm and the investigation and questioning of critical risk management processes.

The Sarbanes-Oxley Act is split in to a number of sections each highlighting the different rules and regulations each organization must implement.

John Parsons is founder of http://corporatenarc.com?. The mission of http://corporatenarc.com? is to educate the public in consumer affairs and to provide consumers with up-to-date business information. In addition we hope to ensure better services for the consumer by exposing business fraud and corruption, as well as unfair and deceptive business practices.

This article my be reproduced as long as the author's name and url to http://corporatenarc.com are present at the end of the article.

Wood Dale Chicago prom limo .. Lockport Chicago limo O’Hare

In The News:

Fueled by artificial intelligence, CyberDog the robotic dog is designed specifically locate fire ant nests, which are endangering ecosystems.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents

Internet browsers are useful, but they can be dangerous. Clicking on malicious links can direct you to dangerous websites that steal information or infect your device.

Apple's latest iOS update introduces advanced artificial intelligence capabilities, which may be capturing and analyzing sensitive information.

Breach site confirmed 56,904,909 Hot Topic users' data leaked online. Tech expert Kurt “CyberGuy" Knutsson says the company's silence makes matters even worse.

Tech expert Kurt “CyberGuy" Knutsson discusses how an innovative Easy-Way kit turns standard strollers electric, simplifying navigation for parents.

Tech expert Kurt “CyberGuy" Knutsson talks about T-Mobile being hacked in broad cyberattack on global phone and internet companies.

Tech expert Kurt “CyberGuy" Knutsson shows you how to add, customize and manage widgets for quick access to apps and info from your iPhone home screen.

Wrong Google searches can not only compromise your device and personal data. They can also bring law enforcement to your doorstep. Hackers are targeting Google searches.

China's Shanghai Kepler Robotics has developed a new humanoid robot that can carry up to 35 pounds per hand for commercial applications across various industries

Checking your hearing has gotten easier with the new hearing test feature in AirPods Pro 2. You can take reliable hearing tests using your iPhone or iPad.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Kurt "CyberGuy" Knutsson explains how a VPN — virtual private network — works and how running it can slow down the operation of your device.

The WalkON Suit F1, an exoskeleton developed to help people with disabilities, can actually walk over to a person in a wheelchair, solving a major problem.

ClickFix, a new scam targeting computer users, is on the rise in the U.S. The scam prompts its targets to click on a link to fix a problem.

Skydweller is the world's largest unmanned solar-powered aircraft that can stay airborne for weeks, and even months, without refueling.

The U.S. government said it is investigating after People's Republic of China hackers targeted commercial telecommunications service providers in the U.S.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Scammers are using increasingly sophisticated ways to lure unsuspecting victims, and some are impersonating an email help desk or support team.

You can unsend or edit your iMessages with the latest iOS updates. Kurt the CyberGuy explains how you can save yourself some potential embarrassment.

Kurt “CyberGuy" Knutsson says there’s been a rise in cybercriminal services using hacked police and government emails to send subpoenas and data requests to U.S. companies.

Kurt “CyberGuy" Knutsson discusses how Axiom Space and luxury designer Prada are collaborating on NASA's Artemis III spacesuit design.

Voice assistants may cause confusion across devices. Tech expert Kurt “CyberGuy" Knutsson offers some solutions to fix it.

Shameless scammers trick veterans into giving personal info or cash. Tech expert Kurt “CyberGuy" Knutsson explores five common scams.

The Sarbanes-Oxley Act

Political