Sarbanes-Oxley Act Forum FAQ (Frequently Asked Questions)

  • When did the Sarbanes-Oxley Act come into law?
    July 30th 2002

    Are there any deadlines?
    Yes there are. Most public companies must meet the mandates for any end of year financial statements filed after June 15th 2004. For smaller and foreign companies there is an extension to June 15th 2004

    Who are Sarbanes-Oxley?
    Senator Paul Sarbanes and Representative Michael Oxley, who drafted the bill.

    How is the act actually organized?
    It is organized into 11 titles, although only a subset of these relate to compliance.

    Why was it introduced?
    It followed a series of high profile scandals. It’s objective is to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws.

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