Sarbanes Oxley Act (SOX) 2002

0.0(0)
studied byStudied by 0 people
0.0(0)
full-widthCall Kai
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
GameKnowt Play
Card Sorting

1/6

encourage image

There's no tags or description

Looks like no tags are added yet.

Study Analytics
Name
Mastery
Learn
Test
Matching
Spaced

No study sessions yet.

7 Terms

1
New cards

Why was Sarbanes-Oxley act enacted?

In response to the Enron and WorldCom scandals

2
New cards

What does SOX make it a crime to do with documents?

Destroy them to impede, obstruct, or influence government investigations

3
New cards

What must CEOs and CFO do under SOX regarding compensation?

Reimburse companies for bonuses or incentive to pay based on false financial reports even if they didn’t cause a false information

4
New cards

What new felony did SOX create

Defrauding shareholders of a publicly traded company

5
New cards

What prosecution does SOX offer employees

Whistleblower protection

6
New cards

What complaint do critics have about SOX

Compliance is far more expensive than anticipated, leading some to for its repeal

7
New cards