Click here

Sarbanes-Oxley

The Sarbanes-Oxley Act was signed into law on 30 July 2002 by President Bush. The Act is designed to oversee the financial reporting landscape for finance professionals. Its purpose is to review legislative audit requirements and to protect investors by improving the accuracy and reliability of corporate disclosures. The act covers issues such as establishing a public company accounting oversight board, auditor independence, corporate responsibility and enhanced financial disclosure. It also significantly tightens accountability standards for directors and officers, auditors, securities analysts and legal counsel. The law is named after Senator Paul Sarbanes and Representative Michael G. Oxley.



Top Terms
  • 1

    Consumerization of IT

    Consumerization of IT is a phrase used to describe the cycle of information technology (IT) emerging in the consumer market then spreading to...

    Read more »

  • 2

    ERP - Enterprise Resource Planning

    Short for enterprise resource planning, ERP is business management software that allows an organization to use a system of integrated applications...

    Read more »

  • Click Here!

Connect with Webopedia

Did You Know? Archive »

  • Quick Reference Archive »