The Sarbanes-Oxley Act of 2002 increased the role directors play in weeding out fraud and their potential liability for overlooking it.
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Unlike the U.K., that portion of the U.S. inspection report is private under the Sarbanes-Oxley Act of 2002, except in limited circumstances.
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The Sarbanes-Oxley Act of 2002, Section 203, imposed a five-year rotation and five-year cooling-off period, from a seven-year rotation with a two-year cooling-off period.
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Until the Sarbanes-Oxley Act of 2002 was passed after Enron, the audit industry was self-regulating and established its own professional standards, enforced only via peer reviews.
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In the financial services industry, personal information is protected by the Sarbanes-Oxley Act of 2002 (SOX), which enacted stringent requirements for the protection of confidential information.
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Additionally, the Sarbanes-Oxley Act of 2002 (SOX) mandates corporations set up procedures for whistle-blowers to provide information, specifically through an anonymous reporting channel, without retaliation from superiors.
The Sarbanes-Oxley Act of 2002 made it very clear that audit clients were no longer supposed to utilize their audit firm as the accounting technical advisor.
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The trend is largely driven by the Sarbanes-Oxley Act of 2002, which required CEOs and finance chiefs to sign off on quarterly financial reports, according to Mr. McGreal.
The audit committee was responsible for complying with parts of the Sarbanes-Oxley Act of 2002, which, in response to the Enron, Tyco International, and WorldCom financial scandals, sought to establish new standards for corporate boards, management, and auditors.
Section 17(e) of the Securities Exchange Act of 1934 (as amended by the Sarbanes-Oxley Act of 2002) requires every registered broker or dealer to annually file certain financial statements with the SEC that are certified by an audit firm that is also registered with the PCAOB.
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It also recommends that the landmark Sarbanes-Oxley corporate governance act of 2002 be incorporated into the Securities Exchange Act of 1934, giving regulators more authority over corporate issues.
In July 2002 America's Congress passed the Sarbanes-Oxley act to disentangle conflicts of interest at (among other places) accounting firms.
In 2002 the Sarbanes-Oxley act limited what kind of non-audit services an American accounting firm can offer to an audit client.
The requirement for senior executives to put their own signature to company accounts themselves is just one aspect of the Sarbanes-Oxley Act, which was rushed through Congress in response to the string of scandals and which is one of the most far-reaching pieces of financial legislation since Depression-era laws established the SEC almost 70 years ago.
Not everyone is slacking: America reacted to its own corporate-governance scandals by implementing tighter regulation, in the form of the Sarbanes-Oxley act and, perhaps as a consequence, has seen a slowdown in foreign listings on the New York Stock Exchange.
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New auditing requirements inspired by the Sarbanes-Oxley act have doubled the cost of preparing a firm's books for the public, according to one executive.
The conviction of and subsequent 25-year sentence given to Bernie Ebbers make an excellent case for repealing or substantially modifying the Sarbanes-Oxley Act, a destructive piece of legislation rushed through Congress three years ago in the aftermath of the WorldCom collapse.
This rotation occurred after the Sarbanes-Oxley Act was passed and the end of it overlaps the period London has admitted to illegally passing inside information about Skechers to his friend.
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It is unclear as yet whether these problems are serious, says Christina Padgett, senior credit officer at Moody's Investors Service, or whether they simply reflect the fact that America's Sarbanes-Oxley act has imposed a higher standard of accounting accuracy.
These, along with the demands of the Sarbanes-Oxley Act, have produced a surge in demand for compliance specialists.
Violations of Section 302 of the Sarbanes-Oxley Act are criminal acts.
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The outsiders hired onto boards after the passage of the Sarbanes-Oxley Act in 2002 brought fresh perspectives, but could not always get their heads around collateralised debt obligations.
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Except for the brief period of mutual antagonism after the passage of the Sarbanes-Oxley Act in 2002, auditors behave more than ever as if their client is management, and now the Audit Committee, rather than investors.
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The business community has been particularly concerned about investment taking root in foreign markets rather than the U.S., especially in the wake of the 2002 Sarbanes-Oxley Act.
Her SEC put a straitjacket on the PCAOB as soon the Supreme Court made the decision that allowed the Sarbanes-Oxley Act, and the PCAOB which came out of it, to go on with only slight adjustments.
It also entails open-ended and murky exposure to legal liability, much of which stems from reporting requirements imposed by the Sarbanes-Oxley Act.
The Sarbanes-Oxley act, which partly restored confidence after the scandals of Enron, WorldCom and others, came at a cost not only in terms of the burden of compliance it imposed on companies.
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