Documentation of Compliance 28



  • Looking for information on documentation of compliance requirements. Any assistance would be greatly appreciated.



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  • Not sure if this will help or not. But according to FindLaw to be compliant with SOX you need to achieve the following:
    Section 302 - Corporate Responsibility for Financial Reports
    The Law requires The CEO and CFO must prepare a statement certifying financial statements and disclosures.
    This means Your management don’t want any surprises from any information feeding into finacial reporting
    Section 404 - Management Assessment of Internal Controls
    The Law requires An ‘Internal Control report’ must accompany an annual report taking responsibility for and assessing the effectiveness of internal controls.
    This means Internal processes involves in the production of financial records must be vetted on a continual basis and recorded accordingly.
    Section 409 - Real-Time Issuer Disclosures
    The Law requires Material changes affecting financial disclosures must be reported on a ‘rapid and current basis’
    This means Depending on the ‘material change’, SEC reports may have to be transmitted as quickly as two days after the event.



  • I’m with you Redrider…
    Also, look at sections 401, 802, and 906. I’ve heard from a few sources that these are required, even though they are not identified as such in their respective text.


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