What do you understand by the term 'Sarbanes-Oxley siksha Abhiyan'?
Answers
Answer:
The Sarbanes-Oxley Act of 2002 is a federal law that established sweeping auditing and financial regulations for public companies. Lawmakers created the legislation to help protect shareholders, employees and the public from accounting errors and fraudulent financial practices.
Answer:
A SOX control is a rule that prevents and detects errors within a process cycle of financial reporting. These controls fall under the Sarbanes-Oxley Act of 2002 (SOX). SOX is a U.S. federal law requiring all public companies doing business in the United States to comply with the regulation
let we see it deep information about Sarbanse-Oxley Sikhs Abhiyan:-
The Sarbanes-Oxley Act of 2002 is a federal law that established sweeping auditing and financial regulations for public companies.
Lawmakers created the legislation to help protect shareholders, employees and the public from accounting errors and fraudulent financial practices.
The legislation, commonly referred to as SOX, sought to both improve the reliability of the public companies' financial reporting as well as restore investor confidence in the wake of high-profile cases of corporate crime. Former U.S. President George W. Bush, who signed the act into law on July 30, 2002, called the act "the most far-reaching reforms of American business practices since the time of Franklin Delano Roosevelt."
SOX primarily sought to regulate financial reporting and other business practices at publicly traded companies. However, some provisions apply to all enterprises, including private companies and not-for-profit organizations.
Additionally, SOX established penalties for noncompliance with its provisions.
Additionally, SOX established penalties for noncompliance with its provisions.The Securities and Exchange Commission (SEC) enforces SOX. The act was named for its sponsors: U.S. Sen. Paul Sarbanes, D-Md., and U.S. Rep. Michael Oxley, R-Ohio.
I just copied this one from my old pdf....
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