9/15/2023 0 Comments Sarbanes oxley convictionsSOX is a large and comprehensive piece of legislation. Key Provisions of SOX Relevant for Compliance The vote was even more lopsided in the Senate, with 99 voting in favor and one abstention. In the House, the bill received 423 votes in favor, and only 3 opposed, with 8 abstentions. The Sarbanes-Oxley Act was passed by an overwhelming majority in both the House and Senate. The need for change in corporate governance was recognized by both the Democrats and the Republicans the bill is named after the two co-sponsors, Senator Paul Sarbanes, Democrat of Maryland, and Senator Michael Oxley, Republican of Ohio. High-profile cases such as these shook investor confidence in US equities markets. After several notable cases of massive corporate fraud by publicly held companies, especially Worldcom and Enron. The Sarbanes-Oxley Act of 2002 (commonly referred to as “SOX”) was passed into law by the US Congress in order to provide greater protections for shareholders in publicly traded companies. ![]() Complying with the Sarbanes-Oxley Act (SOX)
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |