Sarbanes Oxley 101 -- Info Guide to the Sarbanes-Oxley Act of 2002

Need a Sarbanes Oxley Compliance Plan?

It can be confusing learning about the Sarbanes Oxley (SOX) Act and what it means for your business. This website will help you become better informed before contacting Sarbanes Oxley solution consultants.

The Sarbanes-Oxley Act of 2002, sponsored by US Senator Paul Sarbanes and US Representative Michael Oxley, represents the biggest change to federal securities laws in a long time. It came as a result of the large corporate financial scandals involving Enron, WorldCom, Global Crossing and Arthur Andersen. Effective in 2006, all publicly-traded companies are required to submit an annual report of the effectiveness of their internal accounting controls to the SEC.

Provisions of the Sarbanes Oxley Act (SOX) detail criminal and civil penalties for noncompliance, certification of internal auditing, and increased financial disclosure. It affects public U.S. companies and non-U.S. companies with a U.S. presence. SOX is all about corporate governance and financial disclosure.